The used truck market improved in February after a shaky start in 2013, according to the “State of the Industry: U.S. Classes 3-8 Used Trucks” report, published by ACT Research.
Volumes for both the retail and wholesale markets grew month-to-month, but the auction market dropped again, the study showed.
“It is interesting to note that mileage and age of used trucks did not move in sync in February,” said Steve Tam, vice president of the commercial vehicle sector at ACT, in a written statement. “Typically mileage and age move in tandem, but in February mileage increased month-to-month, while average age decreased.”
“Prices, more often than not, move in the opposite direction,” he continued. “With the split this month, age drove pricing.”
Additionally, despite declining from January levels, February commercial orders of trailers were strong enough in February to maintain industry backlogs, according to the latest “State of the Industry: U.S. Trailers” report, also published by ACT.
“Total new orders for trailers were just under 20,000 units, down 8 percent month-to-month, while net orders of 18,160 were down 11 percent,” said Frank Maly, director of CV transportation with ACT, in a release. “Cancellations for most trailer categories continued to be benign.”
The industry ended February with a 6 percent increase in inventory, the report indicated.