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While used truck prices only dipped slightly in August, the 1% year-over-year decline is the first since January 2018, according to ACT Research’s latest report on used Class 3-8 trucks.
Record-setting orders for new Class 8 trucks are apparently not creating a used-truck glut, if used-truck prices are any indication. However, the growth in prices is expected to slow.
Used truck prices stayed relatively flat in July but remained at favorable levels compared with the same month a year ago, according ACT Research.
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.
Overall, used GVW 3-8 transactions from March 1, 2014 to March 31, 2015 accounted for 51.7 percent of total GVW 3-8 transactions in the U.S. market.
As part of its long-term growth strategy to invest in emerging markets, has Manheim announced that it has purchased a majority stake in CarBizz, an auction operation based in São Paulo.