Used Class 8 Truck Sales Up, Prices Down
COLUMBUS, IN — Used Class 8 truck sale volumes swelled 10 percent over May’s sales, according to ACT Research’s latest used trucks report.
The rise in sales bucks the historically slower summer trend (used truck sales usually fall in June and July).
“While one month does not make a trend, it is a confirmation that demand in the used truck market remains strong,” said Steve Tam, ACT’s VP of the commercial vehicle sector.
But while sales increased, the average price for a Class 8 used truck dropped to a record $47,345. That's $1,259 lower than May's average price for used Class 8 trucks.
“Despite the short-term decline, our expectation is for price appreciation of up to 10 percent for 2014, with some upside risk possible,” Tam added.
June was the second month in 2014 when the average price of used trucks dropped.
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.