Used Class 8 retail sales climb 33% despite uncertainty
Average age of Class 8 vehicles at auction declined 2% YoY and MoM
Used Class 8 truck sales improved in February as certain segments experienced strength despite continued economic and political uncertainty.
Same-dealer retail sales of used Class 8 trucks rose 33% year over year and 12% month over month in February, according to a March 14 report by commercial trucking research firm ACT Research. The rise in sales followed increases of 56% YoY and 16% MoM in January.
In February, the average used Class 8 price rose 3% MoM, but fell 1% YoY, according to the ACT Research release. While prices dipped slightly year over year, the improvement in sales signals overall market improvement, Steve Tam, vice president at ACT Research, said in the release.
“The market easily outperformed historical seasonality, which called for an increase of 6% [MoM],” he said. “The gain is a testament to the stalwart nature of truckers, but also somewhat counterintuitive considering all the economic and political uncertainty they are currently facing.”
Meanwhile, the average age of Class 8 vehicles at auction declined 2% YoY and MoM, as more late-model inventory dominates the market, Sandhills Global Equipment Lease and Finance Manager Jim Ryan told Equipment Finance News.
“There’s a premium on a lot of the lease return spec trucks right now,” he said. “We’ve seen a nice shot on the arm, and have, so far since really year end, on that late model inventory, on the Class 8, which has been nice to see.”
Market adjustments
While the economic and political uncertainties surrounding tariffs and emissions standards could limit truck industry activity, other events — such as the rebuilding of Los Angeles after the wildfires — continue to boost other Class 8 segments, Ryan McMonagle, chief executive of the Kansas City, Mo.-based commercial truck dealer Custom Truck One Source, said March 11 during the J.P Morgan Industrials Conference.
“We are seeing some dump truck and some of our roll off truck activity happen,” he said, when referencing the types of trucks active in the areas affected by the wildfires.
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