February 27, 2013
Used Class 8 truck sales dipped 6 percent in January, falling 6 percent from December and 3 percent compared to January 2012, according to ACT Research.
“While one data point does not make a trend, longer term softness is in line with expectations, as new truck buyers have held onto their equipment longer before trading,” Steve Tam, Vice President Commercial Vehicle Sector with ACT, says. “The net effect is older, higher mileage trucks, which translates into lower prices. It is now a buyers’ market.”
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).
Data from the sale of used equipment, while down, doesn’t reflect the market severity of its new counterparts.
A report from Ward’s Automotive this week revealed sales of heavy-duty trucks totaled 13,158 – a drop of 27.4 percent from December and a 6.8 percent decline from January 2012.
The good news for dealers in new trucks was Class 8 orders climbed for the second consecutive month last month and held above 20,000 units for the fourth straight month, according to data from ACT Research.