Used truck sales down as inventory dries up
Jun 29, 2011 12:39 PM
Challenged by a lack of available inventory, sales volumes of used trucks fell in all sales channels during May, according to ACT Research Co. (ACT).
Sales volumes were down approximately 15% from April’s level, according to the latest release of ACT’s State of the Industry: U.S. Classes 3-8 Used Trucks. The trucks that are being sold tend to have higher mileage and are going for higher prices.
“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,” added Tam.
The report from ACT provides data on the average used price for the top-selling Class 8 model for each of the major truck OEM’s – Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo). Subscription information to the full report is available at http://www.actresearch.net
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