Used Class 8 retail sales volumes and prices rose YTD in October

Used Class 8 retail sales volumes and prices rose YTD in October

According to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research, used Class 8 retail volumes (same dealer sales) were 6% lower month-over-month. Longer-term volumes were down 20% y/y, but up 13% ytd. Average prices were 3% higher compared to September, 54% more expensive than in October of 2020, and 36% greater ytd. Average miles were 1% greater m/m and up 4% y/y, while average age increased 2% from September and was 6% older compared to October of 2020.

“Used Class 8 same dealer retail sales volumes struggled in October, returning to sequential decline, following two months of gains. The softness contradicted seasonal expectations, which called for an equivalent gain,” said Steve Tam, vice president at ACT Research. “However, lackluster new truck sales and the lack of used truck inventory have conspired for most of 2021 to foil historical seasonality.”

Looking at the different sales channels for used Class 8 vehicles, Tam commented, “Near-term channel results were also unfavorable for both the auction and wholesale outlets. All three markets also experienced lower volumes compared to October 2020. Through the first ten months of the year, only the retail segment has improved.

“Earlier comments regarding seasonality notwithstanding, history suggests the tumultuousness will be in play through the end of the year,” he added. “Typically, November is the second weakest retail sales month of the year, with December ending the year roughly 6% above average.”

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