The boom in new truck sales is positively affecting the value of used truck prices in the U.S.
ACT Research has found used Class 8 trucks (that’s heavy-duty trucks in our language) are now selling for 15% more than they were this time last year.
Driving the higher prices, not surprisingly, was a lift in demand for used trucks.
The researchers say used truck dealerships reported sales volumes were up on average 13% at the end of June.
That increase is compared to the same period in 2017.
And ACT Research tell us the biggest problem the dealerships are having is simply finding enough trucks to sell!
“Dealers are reporting that used truck sales are very strong, which is good news for dealers, OEMs, finance companies, and truckers trading for new trucks.” – Steve Tam, vice president at ACT Research.
“As the year progresses, an increasing supply, due to increasing new truck sales, along with a softening in demand will likely lead to slowing price appreciation.”
And the study has also found that new trucks are being turned over quicker than last year.
Average mileage of used Class 8 trucks fell 1% and the average age declined 2%.
Are you involved in used truck sales in Australia? Work for, or own a truck dealership?
Let us know what it’s like out there and whether you’re seeing the same positives locally in our Comments section below.
- Related: Inside the logistical challenges of a food charity
- Related: 2018 Mercedes-Benz Trucks All-Wheel Drive Review
- Related: Train and retain: how to attract drivers in a shortage
Stay up to date with the latest Truck and Bus Industry News at heavyvehicles.com.au.