Day Cab Truck For Sale – The average price for Class 8 trucks used in October rose 11% year-on-year to $ 45,378 because buyers pushed sales 9% higher despite a tight inventory level, ACT Research Co. report. A year ago, the average price was $ 40,861. Sales jumped to 25,100 compared with 23,100 a year earlier, according to ACT, which surveyed dealers, wholesalers and auctions and several large fleets to determine the average price, age and distance traveled.
“If you look at the economy or the shipping market, things are going pretty well now,” ACT Vice-President Steve Tam told Transportation Topics. But the latest gains arrive when the shipping environment approaches its historical peak, he said. The transport cycle usually averages 24 to 30 months, and this one has gained momentum since the second quarter of 2017.
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“This cycle has been a long time in the teeth. We are softening in the near future but are still rising year by year, “Tam said.
The October truck tonnage lease index from American Trucking Associations was 9.5% higher than in October last year.
Meanwhile, the average age of Class 8 sold was 6 years, 11 months – down slightly from 7 years a year earlier, Tam said.
Mileage increased to 455,000 compared to 449,000 in the 2017 period.
One publicly traded dealer reported that the used truck business remained fast in the third quarter.
“We change our inventory, we make good margins,” Rush Chairman and CEO W.M. “Rusty” Rush says during an income call.
Used vehicle revenue jumped 32% year on year to $ 97.5 million because sales increased 26%, the company said, which has 100 locations in 21 states.
Other large used truck sellers have managed inventory levels carefully for more than a year.
Ryder System Inc. has kept used truck supplies low, after starting the process in 2017, and expects them to remain near the lower end of the target range for balance this year, said Marc Thibeau, vice president for global used vehicle sales.
“This positions us well and enables the company to sell used vehicles primarily through our retail sales network, where we realize the best prices,” Thibeau said.
ACT said retail transactions, where buyers will use trucks, rose 21% year-on-year, while the auction market rose 3%.
The October auction points to the ongoing scarcity of final-model trucks, Chris Visser, senior analyst for commercial vehicles in J.D. Power, write on the blog.
“On average [at auction], trucks aged 4 to 6 years carry 18.1% more money in 2018 compared to 2017. We didn’t see much change at the beginning of 2019, beyond the typical fluctuations due to holidays and winter,” Write Visser.
The wholesale market, which is mostly dealer-to-dealer sales, fell 21%, Tam said, while recording samples in the variability of samples produced.
“This is a supply constraint that leads to that [decline],” he said, “but another overall theme is that when prices are strong, sellers want to cut intermediaries.”
At the same time, other market research companies see signs of dealer inventory levels starting to increase.
“The number of transactions that we requested to help customers also increased. That showed us that dealers also began to feel like music might not stop for trucks used, but it slowed down, “said Bennett Whitnell, an advisor with KEA Advisors, whose clients ranged from large dealer groups to one-truck garages that it supplies with advice on valuation using data and measurement-based metrics.
“Nobody seems to panic, and they shouldn’t do it, but the collective feeling seems to be chasing data,” he said.
John Whitnell, also with Lawrence, who is based on the KEA, said that sleep and the level of taxi inventory during the day increased because the new Class 8 trucks were shipped and the trade was changed to used inventory.
Sleeping stock returns to its place in April; holiday inventories have dropped, and are still much lower than in April, but have started to increase, according to the latest KEA data.
“That means dealers don’t feel very depressed right now about the absolute level of their inventory,” he said, “which means they are not motivated to sell their excess units at auction.”
KEA analysis is based on a representative sample of dealers surveyed every week, weighted against different brands based on the size and market share of the dealer.
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