Used Class 8 Truck Sales Up in July
COLUMBUS, IN — Used Class 8 trucks sold better in July compared to the month before and selling prices remain high, according to data from ACT Research.
July sales for lass 8 used trucks were two percent higher than June’s volumes and the selling price of Class 8 trucks remained high, climbing one percent over June’s.
“Year to date, sales are down five percent, but the year to date contraction in sales is getting smaller each month,” said Steve Tam, ACT vice president of commercial vehicles.
“However, there appears to be meaningful upside potential in our expectation of price appreciation up to 10 percent for 2014,” Tam said.
Tam said that the auction and retail markets both declined month-over-month, but the wholesales group gained 64 percent month-over-month.
ACT collects industry sample data on the average selling price, mileage and age of trucks. ACT's report also shows the average selling price for top-selling Class 8 models from all major OEMs.