Used Class 8 truck volume in January fell 18% from a year ago and 25% from December 2015, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
Total used truck Classes 3-8 sales were down 11% y/y compared to January 2015, with retail and wholesale markets declining, while the auction market posted a significant gain on a year-over-year basis.
Dealers have reported falling used truck values and increasing used truck inventory levels; supply is outpacing demand and pulling used truck prices down.
“Average mileage of used Class 8 trucks in January was up 2% on a m/m basis, but remained lower year-over-year,” said Steve Tam, ACT’s Vice President-Commercial Vehicle Sector. “Average age of used Class 8 trucks, on the other hand, rose sharply month-over-month, with a 4% increase when compared to January 2015.”