Preliminary used Class 8 volumes (same dealer sales) contracted 8 percent month-over-month in 2020’s fourth month, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. Longer-term, volumes fell 5 percent compared to April 2019, but remained 10 percent above the first four months of last year.

Other data released in ACT’s preliminary report included month-over-month comparisons for April 2020, which showed that average prices were down 8 percent, while average miles were flat and average age increased 2 percent compared to March. Year-to-date, average price, miles, and age were all lower, down 20 percent, 2 percent, and 5 percent, respectively, compared to the first four months of 2019.

According to Steve Tam, Vice President at ACT Research, “Our first reaction to the unit sales data was one of surprise that the market held up as well as it did in April.” He continued, “With the month’s sales being the first to be meaningfully impacted by COVID-19, many expected significant weakness.”

Tam concluded, “One possible explanation is that buyers in search of inexpensive trucks helped support sales in the otherwise soft market.”

COVID-19 Impact
As reported in Equipment Finance Advisor, Act Research this week also released a report on COVID-19 Impact on Economies, CV Demand Predicted Through 2021.

ACT’s Classes 3-8 Used Truck Report provides data on the average selling price, miles, and age based on a sample of industry data. In addition, the report provides the average selling price for top-selling Class 8 models for each of the major truck OEMs.