Photo: Evan Lockridge
Used Class 8 truck sales were mixed in October with volumes shrinking 3% from the previous month according to the latest report from ACT Research.
Despite the mixed monthly results, volumes this year have been relatively stable, declining only 1% from last October and remaining flat over the past nine months. Average prices have climbed 4% from the previous month and are up 1% year to date.
The average mileage of Class 8 trucks fell 2% month-to-month and 11% year-to-year, and are expected to remain low, according to ACT.
“We expect the YTD mileage numbers, now 9% lower than 2014, to remain low, as the industry continues to work its way through the supply of underutilized trucks from the 2008-2010 economic downturn and as new truck buyers shorten their trade cycles,” said Steve Tam, ACT’s vice president-- commercial vehicle sector.
The average was also mixed through October with, at 90 months, a 3% improvement over September. Compared to the same month last year, used trucks were 2% older and have remained relatively flat since the beginning of the year.