Used iron getting more expensive, less supply: ACT
COLUMBUS, Ind. — The price of used heavy trucks is still trending upward as are average miles of pre-owned vehicles in the market.
According to ACT Research, reported average sales prices in March 2011 increased six percent from February levels.
"Inventory on hand continues to be very tight," said Steve Tam, vice president-commercial vehicle sector with ACT. "The trend is for vehicles coming to market with higher mileage, a reaction to fleets holding on to their equipment longer.
"Used prices will continue to rise, driven by tight availability of low-mileage and late model units."
The report from ACT provides data on the average used price for the top-selling Class 8 model for each of the major truck OEMs.
The full report can be attained at the company’s website here.
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