Used Class 8 prices rise 6% in March
The average sales price of used Class 8 trucks has surged in the past 15 months, with the March average price up 6 percent from February, ACT Research Co. reported.
ACT said the average used truck price in March was $38,516 for sales in all channels, including auctions and retail and wholesale transactions. In March 2010 the average price was $27,923, and in February the average price was $36,195.
In release of its State of the Industry: U.S. Classes 3-8 Used Trucks, ACT also reported that average miles for vehicles in the used market also continued to increase.
“Inventory on hand continues to be very tight,” said Steve Tam, vice president-commercial vehicle sector with ACT. “The trend is for vehicles coming to market with higher mileage, a reaction to fleets holding on to their equipment longer. Used prices will continue to rise, driven by tight availability of low-mileage and late model units.”
ACT’s used truck database participants report approximately 2,700 transactions per month.