Soft freight, low prices creating used truck ‘buyer’s market’

Reading time: 2 min
CDL Scan carriers News
Share on Wednesday, December 4, 2019 9:35 AM
Soft freight, low prices creating used truck ‘buyer’s market’

Class 8 used truck same dealer sales volumes last month rose 43%  over September, a surge ACT Research largely believes is an anomaly.

The October surprise follows a 5% month-over-month loss in September, according to ACT’s State of the Industry: U.S. Classes 3-8 Used Trucks. Longer term, sales were up 7% year over year, but down 17% year to date compared with the first 10 months of 2018.

“Despite the pop in sales … most dealers are reporting lagging used truck sales; at the same time, inventories are continuing to build,” said Steve Tam, ACT vice president.

The report also indicates used Class 8 average miles increased month-over-month (4%) and were virtually flat year to date, while average age inched up 1% compared with September, but rose 4% on a year-to-date basis. Average price also shed 13% month over month, while growing 3% year to date.

“The two forces are conspiring to drive prices down and creating a buyer’s market.” Tam says. “Prices have reached a point that is attractive enough to some buyers who are looking to upgrade their fleets to make a purchase decision, while fleets who have been holding onto trucks that they no longer need are making these trades available for purchase as freight softens.”

 

Share this article on

Similar news:

Car shipping Main news Contacts
Log in
Get access to the database of drivers