ACT: Used truck sales, trailer orders drop
Used truck sales in all sales channels dropped about 15 percent in May from April, due to a lack of available inventory, according to ACT Research Co.
ACT also reported U.S. trailer net orders fell 9 percent in May from April, the second consecutive monthly decline for the industry. Despite that decline, commercial trailer backlogs grew 1 percent from April to 102,500 units.
New truck sales should help ease used truck supplies and pricing, said Steve Tam, ACT vice president-commercial vehicle. “Due to new truck buyers holding on to their equipment longer, used truck mileage continues to trend upward. Vehicle age and mileage are expected to increase throughout 2011,” Tam said.
ACT noted trailer build was up 87 percent from May 2010, while industry backlog was 122 percent higher for the same time period.
“The decline in net orders was actually in line with what would be expected from normal industry patterns,” said Frank Maly, director of CV Transportation Analysis and Research. “The order board continues to appear solid, as supported by extremely low order cancellations.”