Inventory shortage weakens used truck market
According to ACT Research, sales of used Classes 3-8 trucks extended their summer slump in August, 2011, falling 3% 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% from the same time period last year.
“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.”
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).
For subscription information to the full report, visit http://www.actresearch.net.