COLUMBUS, Ind. – 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 truck metrics are mixed in the month of October.
Even though volumes shrank 3% month-over-month, volumes were down a mere 1% year-over-year.
“Average mileage of used Class 8 trucks prolonged its diamond-in-the-rough status in October, dropping 2% month-over-month and 11% year-over-year. We expect the YTD mileage numbers, now 9% lower than 2014, to remain low, as the industry continues to work its way through the supply of underutilized trucks from the 2008-2010 economic downturn and as new truck buyers shorten their trade cycles,” said Steve Tam, ACT’s vice-president, commercial vehicle sector. “Conversely, the average age of US Class 8 used trucks sold in October could not have been more mixed. Age fell to 90 months, a 3% month-over-month improvement. Compared to October 2014, trucks were 2% older, while age remained relatively flat YTD. Additionally, average prices climbed 4% m/m, holding onto a 1% YTD gain for the third consecutive month.”