According to the latest numbers from ACT Research, preliminary used Class 8 volumes increased 5% month-over-month, but dropped 25% year-over-year in September. Through the first nine months of the year, activity is 3% higher compared to the same period a year ago, ACT said.
Other data released in ACT’s preliminary report included month-over-month comparisons for September 2021, which showed that average prices rose 5%, as average miles gained 3% and age fell 4%, compared to August. Compared to September of 2020, average price was 73% higher, with average miles down 1% and age up 3%. On a year-to-date basis, average price is 48% above its year-ago level for the first nine months of 2020, with average miles down 3% and age 1% lower on a year-to-date basis.
“Preliminary same dealer sales bounced back in September, but are lagging behind September 2020,” Steve Tam, vice president at ACT Research. “The atypical sequential gain was insufficient to stop the longer-term slide, which has trimmed YTD growth.
“The well-publicized, ongoing supply chain concerns are having a very real and tangible impact on the flow of trades into the secondary market, severely limiting used truck sales at a time when demand is through the roof,” Tam added. “And while no one knows for certain when the constraints will be relieved, it is not likely to happen soon or suddenly, leaving sufficient time to adjust. Because the law of supply and demand has not and cannot be repealed, used truck prices are left with no alternative but to continue climbing. And that is exactly what they did in September.”
