Sales of used Classes 3-8 trucks extended their summer slump in August, falling 3 percent from July. Volumes were mixed on a channel by channel basis, falling in the auction and wholesales markets, but gaining ground in the retail market. YTD volumes for Class 8 used trucks are down 7.4 percent from the same time period last year.
The update on the used market was reported in the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
"Part of the softness can be attributed to vacation malaise," said Steve Tam, vice president-commercial vehicle sector with ACT. "However, the industry continues to be challenged by lack of inventory, particularly with respect to late model, low mileage units," 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 OEMs - Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo).
