Keeping with the flattening trend seen in age and mileage, average price also experienced a leveling off compared to April. YTD prices were up 8% from last year, with gains in line for ACT’s expectations of 5-10% growth in 2015.
Total reported volumes of used Class 8 trucks fell to 2,496 units in May, down 11% month-over-month, but up 3% year-over-year, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
“Volume softening can be seen in the retail and wholesale markets, with m/m declines of 12% and 14%, respectively,” said Steve Tam, vice-president, commercial vehicle sector with ACT. “Auction transactions saw a 9% increase m/m, 8% above volumes from May 2014.” Tam added, “Our guidance for full year 2015 sales remains unchanged.”
The report from ACT provides data on the average selling price, miles, and age based on a sample of industry data. For subscription information to the full report, visit www.actreseach.net.