Used Class 8 truck metrics continued to be mixed in February, according to the latest release of the ACT Research Co.’s State of the Industry report.
“February Class 8 used truck volumes appeared to be getting an early jump on spring, rising 6% year-over-year. This, however, translates to a 7% year-to-date contraction compared to the first two months of 2015,” said Steve Tam, ACT’s vice president for the commercial vehicle sector. “Dealers continue to report falling used truck values and slower than desired sales. Average mileage of used Class 8 trucks in February fell 3% month-over-month, breaking a streak of four consecutive monthly increases, and we expect year-to-date mileage numbers to remain lower in 2016 as the industry continues to work its way through the supply of underutilized trucks from the 2008-2010 economic downturn.”
The full State of the Industry report can be accessed at ACT’s website.