COLUMBUS, Ind. — Used truck sales in the US have slowed, according the latest data from ACT Research, but it’s more to do with a lack of supply than demand.
A lack of available inventory caused sales volumes of used trucks to drop 15% in May compared to April.
In its State of the Industry: US Classes 3-8 Used Trucks report, ACT Research reported that average miles for vehicles as well as prices in the used truck market both continued to increase.
“While used inventory continues to be tight, the industry should see some relief in supply and pricing as new truck sales improve,” said Steve Tam, vice-president-commercial vehicle sector with ACT. “Due to new truck buyers holding on to their equipment longer, used truck mileage continues to trend upward. Vehicle age and mileage are expected to increase throughout 2011.”
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