Preliminary used Class 8 sales fell 6% month-over-month and 8% y/y in February, but are 5% higher on a year-to-date basis compared to this time last year, according to ACT Research.
Other data released in ACT’s preliminary report included month-over-month comparisons for February 2021, which showed that average prices rose 1%, while average miles was up 5% and average age was 3% higher compared to January. Compared to February of 2020, average price was 17% higher, while average miles and age rose 2% each, ACT Research says.
“Somewhat belying history, February used truck sales volumes took a step down from January, which is typically the weakest sales month of the year,” said Steve Tam, vice president at ACT Research. “What is different this time is that the inventory of used trucks is in short supply. Owing partially to strong used truck sales in the second half of 2020 and to supply chain-constrained, lower-than-expected new truck build and sales, dealers are having a hard time sating used truck buyers’ appetites.
“Demand continues to be stoked by a robust freight market that is yielding some of the highest spot freight rates on record,” he added. “While we believe used truck prices will continue to increase, the gains do come with an expiration date, as the supply-demand balance between trucks and freight will equalize and used truck price comparisons will get increasingly tougher.”
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March 22, 2021 at 09:57PM
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Preliminary used Class 8 data shows sales down m/m, y/y - Fleet Equipment Magazine
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