January's Used Truck Prices Up, Volumes Slip
COLUMBUS, IN. — Used truck prices were up in January, reported ACT Research, in both the retail and wholesale channels — a strength in pricing that ACT attributes to soft volumes.
“Despite January’s results, we expect year-over-year pricing growth will continue to slow over the longer term,” reported Steve Tam, vice president-commercial vehicle sector with ACT.
“We believe that as more new trucks are purchased and trade-ins ultimately become available as used trucks, availability of inventory will take the pressure off pricing,” he added.
The only weak spot for January, ACT said, was the month-over-month change in auction results.
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).