Preliminary used Class 8 truck sales fell 8% month-over-month in January, but are 14% higher year-over-year compared to 2020, according to the latest preliminary numbers from ACT Research.
Other data released in ACT’s preliminary report included month-over-month comparisons for January 2021, which showed that average prices dropped 7%, while average miles and age each rose 3% compared to December 2020. Compared to January of 2020, average price was 4% lower, while average miles was up 3% and average age was 2% higher.
“While January seems to have started slowly, part of the story is expected,” said Steve Tam, vice president at ACT Research. “Sales volumes typically drop around 20% from December, so the 8% fall in preliminary same dealer sales does not seem too bad. Additionally, the fact that this January is running 14% ahead of January 2020 is a good sign that demand for used trucks remains strong.
“Somewhat surprising was the sudden decline in the average sale price, but seasonality does comes into play with prices in January, as trucks are now a year older, and it is not unusual to see the average selling price fall 25% from December to January,” he added.
