William B. Cassidy, Senior Editor | Nov 28, 2012 11:56AM EST
Sales of used Class 8 trucks rose 6 percent in October from the previous month, driven by lower pricing, according to ACT Research.
The increase in used truck sales occurred as net orders for new heavy-duty tractors and medium-duty trucks surged in October after a long soft patch.
October’s gain followed a 17 percent month-to-month decline in used Class 8 sales in September. Pricing declined year-over-year in September and October.
“Pricing continues to be the primary topic of interest in the industry,” said Steve Tam, vice president for the commercial vehicle sector at ACT Research. “Year-over-year pricing experienced a meaningful decline” in October, he said.
Used truck sales rose throughout most of the year and climbed from May through August, but pricing has fluctuated, according to data from ACT Research.
The increase in used truck sales and new truck orders indicates trucking operators are replacing older vehicles, trading them in for new equipment.
That puts more used trucks on the market, which tightened this year as fleets hung onto older trucks as the economic recovery slowed.
In the long term, the small number of late-model used trucks puts upward pressure on pricing. Relatively few trucks were built during the recession.
Contact William B. Cassidy at wcassidy@joc.com and follow him at www.twitter.com/wbcassidy_joc