Preliminary used Class 8 volumes (same dealer sales) fell 2% month-over-month in July, the fourth consecutive sequential drop, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.
Additionally, the report indicated that longer-term comparisons yielded a 22% decline compared to July 2018, as well as a year-to-date drop of 18%.
Other data released in ACT’s preliminary report included sequential comparisons for July 2019, which showed that average prices fell 4%, while average miles climbed 2% and average age was up 4%.
According to Steve Tam, vice president at ACT Research, “Used truck prices are the hottest topic in the industry right now. Many dealers are experiencing significant softening in prices, but the erosion is not uniform. Depending on a host of factors, experiences vary and a few factors that impact prices include customer, equipment specifications, location, and vehicle condition.”