Used truck prices stayed relatively flat in July but remained at favorable levels compared with the same month a year ago, according ACT Research.
While the average price of used Class 8 trucks was flat in June compared to the previous month, they have risen 15% over last year.
Recent Class 8 trade volumes have been lower than predicted, which means pricing has been more stable than expected for used trucks, according to J.D. Power & Associates.
According to J.D. Power and Associates, higher volumes of both heavy- and medium-duty used trucks caused prices to fall off "substantially" in February.
Used truck prices are holding steady, with supply still dictating pricing. That’s the word from J.D. Power’s Commercial Truck Guidelines for March, which notes that February is the first month in any new year with a high enough volume of used truck auctions to allow analysts to identify market trends.
Used Class 8 truck same-dealer sales volumes rose by two dozen units in September, according to a report on the used commercial vehicle market from ACT Research.
As the summer season continues, one trend is emerging for medium-duty trucks — declining auction prices, according to Black Book’s August Specialty Markets report.
“It is expected that we will see more declines in the Index in the months ahead as we move deeper into the year, particularly driven by softness among car segments,” said Anil Goyal, senior vice president of Automotive Valuation and Analytics for Black Book.
Industry experts say a glut of used trucks remains on the market and, in extreme cases, some fleets actually owe more for equipment than it is now worth on the secondary market.
International Truck announced the grand opening of the new flagship Used Truck Center in Melrose Park, Ill.
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