Used truck prices setting records
The average selling price of total reported used Class 8 trucks set a record for the second consecutive month in February at just more than $44,400, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
“Despite the record selling prices, based on the assumption of satisfying some of the pent up demand, prices are expected to cool slightly in 2014,” says Steve Tam, Vice President-Commercial Vehicle Sector with ACT. Tam said that prices should range from flat to down 5 percent.
Increased numbers of newer used trucks continue to enter the market, providing buyers with better access to the low-mileage trucks, according to the newest NADA Commercial Truck Guide Industry Report.
January prices for used sleeper set yet another record, climbing to $56,488 – the highest figure recorded since NADA current data analysis processes were introduced in mid-2007 and about one-third the MSRP of a new truck.
“We see little change in these trends over the next two quarters. 2012’s could place very mild downward pricing pressure on late-model trucks as they enter the market in greater numbers, but it is also possible demand will remain strong enough to absorb this supply with no impact to pricing. The bottom line is dealers can be confident in the value of their late-model inventory in the upcoming months,” the report states.