Lack of inventory impacts used truck market
Despite posting a 9% increase from May’s lackluster sales levels, the Class 3-8 used truck market continues to be impacted by a shortage of available inventory, according to ACT Research Co. (ACT). Even with this most recent improvement, on a year-to-date basis, the used market is 6% behind the 2010 sales pace.
“Used truck mileage continues to edge up, in response to fleets holding onto their equipment longer,” said Steve Tam, vice president-commercial vehicle sector with ACT. “The market is still awaiting some relief to the shortage of sellable inventory as well as upward price pressures. Improving new truck sales will result in increased trade-ins, and should provide some relief to the market.”
The update comes from ACT’s “State of the Industry: U.S. Classes 3-8 Used Trucks” report on the average used price for the top-selling Class 8 major truck OEM models. The OEMs include: 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.