Preliminary used Class 8 volumes (same dealer sales) fell 5% month-over-month in September, according to the latest numbers from ACT Research. Additionally, the report indicated that longer-term comparisons yielded a 17% decline compared to September 2018, as well as a year-to-date drop of 19%, the 11th consecutive contraction for both time period comparisons.
Other data released in ACT’s preliminary report included sequential comparisons for September 2019, which showed that average prices and average age fell 3% each, while average miles climbed 5%.
“September marks the first time since the fall of 2012 that the used truck industry has seen average prices fall month-over-month for three straight months,” said Steve Tam, vice president at ACT Research. “September also has the distinction of being the first time since mid-2017 that prices have fallen year-over-year for two consecutive months. From our perspective, there are two factors at work. Demand is falling, as evidenced by lower sales volumes, and supply is on the rise.”