Used Truck Sales Went Up in March, But Prices Dropped
COLUMBUS, IN — There were eight percent more used Class 8 trucks sold in March compared to February, but the used trucks are going for less than before, according to a report from Americas Commercial Transportation (ACT) Research.
“The volume gain was expected, since sales usually gain through March or April before slowing for the summer months,” said Steve Tam, vice president, commercial vehicle sector with ACT.
The gain in used Class 8 trucks came from the auction and wholesale markets, while the retail market shrunk. Meanwhile, pricing sunk in March, experiencing its first drop in six months.
“Although prices remained stronger on a year-over-year basis, a spate of older, higher mileage units took its toll, at least in the short run,” Tam said.
Trailer order volumes slowed down month over month in April, but large fleet commitments were still providing support, according to ACT. Cancellations posted single-digit rates and the order board was the best in nearly eight years.?
“The month over month slide in orders was in line with seasonal expectations,” said Frank Maly, director, commercial vehicle transportation analysis and research at ACT. “New order volume was 29,730 trailers, down eight percent from March. After cancellations, net volume of 29,370 was down two percent.”
The six months of the 2013/14 order season got 165,000 trailer orders, up 22 percent year over year.