commercial vehicles state of the industry u.s. classes 3-8 used trucks · 2017-01-20 · state of...

Americas Commercial Transportation Research Co., LLC • www.actresearch.net

May 2015 DataPublished June 24, 2015

“State of the Industry: U.S. Classes 3-8 Used Trucks” is published monthly by Americas Commercial Transportation Research Company, LLC (ACT), 4400 Ray Boll Boulevard, Columbus, IN 47203. Phone: 812-379-2085, Fax: 812-378-5997, e-mail: [email protected] Copyright 2015 by ACT with all rights reserved. Reproduction, copying, or publication of this report in whole or part is not permitted without prior approval. This document is for internal use only. Questions and subscription requests should be directed to K.W. Vieth, Publisher.

COMMERCIAL VEHICLES State of the Industry

U.S. Classes 3-8 Used Trucks

Contributor to Blue Chip Economic Indicators and WSJ Economic Forecast Panel

June 2015 • U.S. Classes 3-8 Used Trucks

CONTENTS

STATE OF THE INDUSTRY SERIES * U.S. CLASSES 3-8 USED TRUCKS

Page(s) SUMMARY OBSERVATIONS ...................................................................................................... 1 USED TRUCK MANAGEMENT STATISTICS .......................................................................... 2-7

. CURRENT MONTH STATISTICS

. YEAR TO DATE STATISTICS

. CLASSES 3-5 TIME PERIOD COMPARISONS

. CURRENT MONTH VERSUS PAST MONTH

. CURRENT MONTH VERSUS SAME MONTH ONE YEAR AGO

. CURRENT 3 MONTHS VERSUS SAME 3 MONTHS ONE YEAR AGO

. YEAR TO DATE VERSUS YEAR TO DATE ONE YEAR AGO

. CLASSES 6-7 TIME PERIOD COMPARISONS

. AS LISTED ABOVE

. CLASSES 8 TIME PERIOD COMPARISONS

. AS LISTED ABOVE

. SELECT ANNUALIZED TIME PERIOD COMPARISONS

AVERAGE SELLING PRICE/CLASS 8 ROAD TRACTOR EXPORTS ....................................... 8

. AVERAGE SELLING PRICE OF USED CLASS 8 TRUCKS (EXCLUDING AUCTIONS)

. U.S. EXPORTS OF USED CLASS 8 ROAD TRACTORS

LIGHT DUTY (CLASSES 3-5) GRAPHS ................................................................................ 9-10 MEDIUM DUTY (CLASSES 6-7) GRAPHS ........................................................................... 11-12 HEAVY DUTY (CLASS 8) GRAPHS ..................................................................................... 13-14 THE FOLLOWING GRAPHS ARE PRESENTED FOR EACH OF THE THREE GRAPH SECTIONS ABOVE: TOTAL REPORTED

. SALES (UNITS)

. AVERAGE SALES PRICE ($)

. AVERAGE MILES

. AVERAGE AGE (MONTHS)

AVERAGE CLASS 8 SELLING PRICE by OEM (HIGHEST VOLUME MODELS) .............. 15-20 * This STATE OF THE INDUSTRY report contains only United States light, medium and heavy duty, Classes 3-8, used truck data (not seasonally adjusted).

STATE OF THE INDUSTRY: UNITED STATES CLASSES 3-8 USED TRUCKS

June 2015 • U.S. Classes 3-8 Used Trucks • Page 1

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2,200

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2,600

2,800

May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr

Un

its

Source: US ITC, ACT Research Co., LLC © 2015

U.S. Exports of Used Class 8 Road Tractors

Most recent 12 months

Previous 12 months

ACT’s USED CLASS 8 SUMMARY – MAY (F) 2015

TOTAL CLASS 8 UNITS

AVERAGE PRICE

AVERAGE MILES

AVERAGE AGE

MONTH/ MONTH

‐11%

0% 0% 1%

YEAR/ YEAR

3% 2%

‐3%

0%

YTD/ YTD

1% 8%

‐6%

‐4%

VOLUME TRENDS: May saw a decrease in unit volume, with an 11% drop compared to April, returning to levels slightly above May of last year. With strong demand in the last few months, sales have exceeded expectations, shrinking inventory levels available to dealers. Along with seasonal softness, this contributes to the reduction in volumes. From a historical perspective, unit volumes should rise again over the coming summer months. Total reported volumes of used Class 8 trucks dropped to 2,496 units in May. Volume softening can be seen in the retail and wholesale markets, with m/m declines of 12% and 14% respectively. Auction transactions saw a 9% increase m/m, putting them 8% above volumes from May 2014. Our guidance for full year 2015 sales remains unchanged at a 5% gain, roughly 265,000 units. Commentary from dealers regarding business conditions was all over the board during the past month. One dealer said, “Used truck sales are good, but there has been some softening of used late model aerodynamic sleeper prices.” From a wholesale dealer, we heard he was having trouble finding trucks to sell, but had started exporting again, a scenario normally associated with stronger demand. Several new truck dealers told us they have stopped purchasing used trucks to resell and are only taking them on trade. As a result of aggressive new truck trade packages, they are saddled with “expensive” used truck inventory that they may have to sell at a loss just to get to rid of. By curtailing the purchase of non-trade used trucks, the dealers may be limiting their ability to offset their used truck losses. MILEAGE TRENDS: The average miles of trucks sold in May was flat relative to April, with the figure falling 3% from May 2014. Progress has slowed, dropping to a 6% YTD improvement. We expect the YTD numbers to remain elevated compared to 2014 as the industry continues to work its way through the supply of underutilized trucks from the 2008-2010 economic downturn. AGE TRENDS: The average age of Class 8 used trucks flattened year over year in May, but improved about 4% for the year. Reductions in age will remain elusive as time is the true constant. PRICING TRENDS: Keeping with the flattening trend seen in age and mileage, average price also experienced a leveling off compared to April. Year over year prices were still up from last year, but now only by 2%. YTD prices were 8% better compared to the same time period in 2014. The gain is in line with our expectations for 5-10% growth in 2015.

EXPORT TRENDS: April exports of used road tractors continued to rebound after ending a four month sequential decline in March. Government trade data through April 2015 shows 979 Class 8 road tractors were exported, the fourth month of sub-1,000 units in the past 31 months. From a seasonal perspective, the volumes were better than expected. This may help explain the disconnect in February of exports not picking up as much as expected. A combination of weather and slowing global economic growth may have shifted timing of traditional seasonal patterns. Vietnam denied Mexico the top spot for the fourth consecutive month by almost 60%. For the first four months of 2015, Vietnam owns a commanding lead. Canada held onto the number two position for the second month in a row. Volumes improved solidly across the tops spots from March, but remain behind both year-ago and YTD levels. With historical seasonal performance as a backdrop, export activity should see another sizable gain in May. Looking further ahead, we expect that exports will total 10,500 units for 2015, about a 32% decline. For 2016, we anticipate slowing to 11,000 units.

CLASSES CLASSES CLASS CLASSES

3-5 6-7 8 3-8MARKET/VARIABLE TOTAL TOTAL TOTAL TOTAL Auction. Sales (Units) 38 21 190 249 . Sales ($) 289,400$ 267,500$ 3,402,635$ 3,959,535$ . Average Sale Price ($)** 7,616$ 12,738$ 17,909$ 15,902$ . Average Miles 184,995 171,171 619,687 505,837 . Average Age (Months) 132 142 134 135 Retail. Sales (Units) 111 186 1,689 1,986 . Sales ($) 2,086,205$ 5,976,985$ 94,712,873$ 102,776,063$ . Average Sale Price ($) 18,795$ 32,661$ 57,928$ 53,279$ . Average Miles 137,015 172,173 495,430 446,755 . Average Age (Months) 110 102 84 87 Wholesale. Sales (Units) 27 26 617 670 . Sales ($) 99,735$ 358,300$ 22,715,165$ 23,173,200$ . Average Sale Price ($) 3,694$ 13,781$ 38,177$ 35,761$ . Average Miles 200,240 184,537 554,596 526,431 . Average Age (Months) 148 140 87 92

Total Reported. Sales (Units) 176 233 2,496 2,905 . Sales ($) 2,475,340$ 6,602,785$ 120,830,673$ 129,908,798$ . Average Sale Price ($) 14,064$ 28,708$ 49,930$ 45,969$ . Average Miles 158,390 173,464 519,017 470,265 . Average Age (Months) 121 110 88 92

Industry Estimate***. Retail Sales (Units) 25,600 9,000 21,600 56,200 . Per Day Sales (Units) 1,219 429 1,029 2,676 . Inventory (Units) 90,000 27,000 47,000 164,000 . Inventory Turnover 3.41 4.00 5.51 4.11 . Inventory On Hand (Days) 107 91 66 89

*Actual data not seasonally adjusted. ** May not calculate due to volume differences*** Estimate based upon extrapolation of reported data and application of various CV market heuristics. NOTE: Data supplied for your internal use only. External distribution is not permitted without prior approval. Electronic or other re-release of

Classes 3-8 used vehicle statistics is not authorized except in written summaries (no data tables) supporting the business of the subscribing SOI company

ACT Research Co., LLC must be creditied as the data source.

CURRENT MONTH STATISTICS

May 2015

USED TRUCK INDUSTRY MANAGEMENT STATISTICS*UNITED STATES



3-5 6-7 8 3-8MARKET/VARIABLE TOTAL TOTAL TOTAL TOTAL Auction. Sales (Units) 267 211 859 1,337 . Sales ($) 2,105,247$ 2,655,550$ 16,903,138$ 21,663,935$ . Average Sale Price ($)** 7,885$ 12,586$ 19,980$ 16,362$ . Average Miles 167,923 205,399 606,469 447,372 . Average Age (Months) 128 133 128 129 Retail. Sales (Units) 588 954 8,647 10,189 . Sales ($) 9,705,052$ 27,853,950$ 487,014,663$ 524,573,665$ . Average Sale Price ($) 16,505$ 29,506$ 56,788$ 51,897$ . Average Miles 138,617 188,480 495,442 452,654 . Average Age (Months) 121 104 85 89 Wholesale. Sales (Units) 81 181 3,242 3,504 . Sales ($) 364,850$ 2,332,771$ 117,873,857$ 120,571,478$ . Average Sale Price ($) 4,504$ 12,888$ 36,607$ 34,627$ . Average Miles 194,800 238,041 562,849 540,190 . Average Age (Months) 149 121 88 92

Total Reported. Sales (Units) 936 1,346 12,748 15,030 . Sales ($) 12,175,149$ 32,842,271$ 621,791,658$ 666,809,078$ . Average Sale Price ($) 13,008$ 24,583$ 49,185$ 44,710$ . Average Miles 154,604 198,038 519,959 472,889 . Average Age (Months) 125 111 89 93

Industry Estimate***. Retail Sales (Units) 129,400 45,200 108,900 283,500 . Per Day Sales (Units) 1,221 426 1,027 2,675 . Inventory (Units) 90,000 27,000 47,000 164,000 . Inventory Turnover 3.45 4.02 5.56 4.15 . Inventory On Hand (Days) 106 91 66 88

*Actual data not seasonally adjusted. ** May not calculate due to volume differences*** Estimate based upon extrapolation of reported data and application of various CV market heuristics. NOTE: Data supplied for your internal use only. External distribution is not permitted without prior approval. Electronic or other re-release of

Classes 3-8 used vehicle statistics is not authorized except in written summaries (no data tables) supporting the business of the subscribing SOI company.

ACT Research Co., LLC must be creditied as the data source.

YEAR-TO-DATE STATISTICS

USED TRUCK INDUSTRY MANAGEMENT STATISTICS*

May 2015UNITED STATES


MONTH/ YEAR/ PAST 3 MOS/ YTD/Total Reported MONTH YEAR YR AGO 3 MOS YTDSALES (Units): a.CURRENT PERIOD 176 176 663 936 b.PAST PERIOD 239 220 726 1,091 UNIT CHANGE a-b (63) (44) (63) (155) % CHANGE -26.4% -20.0% -8.7% -14.2% AVERAGE SALE PRICE ($): a.CURRENT PERIOD 14,064$ 14,064$ 13,874$ 13,008$ b.PAST PERIOD 14,573$ 16,321$ 15,185$ 14,447$ UNIT CHANGE a-b (509)$ (2,257)$ (1,311)$ (1,440)$ % CHANGE -3.5% -13.8% -8.6% -10.0% AVERAGE MILES: a.CURRENT PERIOD 158,390 158,390 150,231 154,604 b.PAST PERIOD 147,467 147,357 141,458 144,715 UNIT CHANGE a-b 10,924 11,034 8,773 9,888 % CHANGE 7.4% 7.5% 6.2% 6.8% AVERAGE AGE (Months): a.CURRENT PERIOD 121 121 126 125 b.PAST PERIOD 129 100 104 108 UNIT CHANGE a-b (9) 21 22 18 % CHANGE -6.8% 20.5% 21.4% 16.5% Industry Estimate***RETAIL SALES (Units): a.CURRENT PERIOD 25,600 25,600 79,400 129,400 b.PAST PERIOD 26,900 24,700 76,500 125,900 UNIT CHANGE a-b (1,300) 900 2,900 3,500 % CHANGE -4.8% 3.6% 3.8% 2.8% PER DAY SALES (Units): a.CURRENT PERIOD 1,219 1,219 1,222 1,221 b.PAST PERIOD 1,223 1,074 1,177 1,177 UNIT CHANGE a-b (4) 145 45 44 % CHANGE -0.3% 13.5% 3.8% 3.7% INVENTORY (Units) a.CURRENT PERIOD 90,000 90,000 90,000 90,000 b.PAST PERIOD 93,000 88,000 88,000 88,000 UNIT CHANGE a-b (3,000) 2,000 2,000 2,000 % CHANGE -3.2% 2.3% 2.3% 2.3% INVENTORY TURNOVER a.CURRENT PERIOD 3.41 3.41 3.53 3.45 b.PAST PERIOD 3.47 3.37 3.48 3.43 UNIT CHANGE a-b (0.06) 0.05 0.05 0.02 % CHANGE -1.7% 1.3% 1.5% 0.5% INVENTORY ON HAND (Days) a.CURRENT PERIOD 107 107 103 106 b.PAST PERIOD 105 108 105 106 UNIT CHANGE a-b 2 (1) (2) (1) % CHANGE 1.7% -1.3% -1.5% -0.5%

*Actual data not seasonally adjusted.

*** Estimate based upon extrapolation of reported data and application of various CV market heuristics.

TOTAL CLASSES 3-5 UNIT & PERCENT CHANGE




MONTH/ YEAR/ PAST 3 MOS/ YTD/Total Reported MONTH YEAR YR AGO 3 MOS YTDSALES (Units): a.CURRENT PERIOD 233 233 855 1,346 b.PAST PERIOD 295 349 998 1,565 UNIT CHANGE a-b (62) (116) (143) (219) % CHANGE -21.0% -33.2% -14.3% -14.0% AVERAGE SALE PRICE ($): a.CURRENT PERIOD 28,708$ 28,708$ 25,429$ 24,583$ b.PAST PERIOD 24,588$ 25,479$ 23,978$ 23,604$ UNIT CHANGE a-b 4,119$ 3,229$ 1,451$ 979$ % CHANGE 16.8% 12.7% 6.1% 4.1% AVERAGE MILES: a.CURRENT PERIOD 173,464 173,464 190,301 198,038 b.PAST PERIOD 187,426 194,770 194,878 197,448 UNIT CHANGE a-b (13,962) (21,305) (4,577) 590 % CHANGE -7.4% -10.9% -2.3% 0.3% AVERAGE AGE (Months): a.CURRENT PERIOD 110 110 109 111 b.PAST PERIOD 110 109 110 108 UNIT CHANGE a-b (1) 1 (0) 3 % CHANGE -0.6% 0.6% -0.2% 2.9% Industry Estimate***RETAIL SALES (Units): a.CURRENT PERIOD 9,000 9,000 27,700 45,200 b.PAST PERIOD 9,400 9,500 29,300 48,300 UNIT CHANGE a-b (400) (500) (1,600) (3,100) % CHANGE -4.3% -5.3% -5.5% -6.4% PER DAY SALES (Units): a.CURRENT PERIOD 429 429 426 426 b.PAST PERIOD 427 413 451 451 UNIT CHANGE a-b 1 16 (25) (25) % CHANGE 0.3% 3.8% -5.5% -5.5% INVENTORY (Units) a.CURRENT PERIOD 27,000 27,000 27,000 27,000 b.PAST PERIOD 27,000 28,000 28,000 28,000 UNIT CHANGE a-b - (1,000) (1,000) (1,000) % CHANGE 0.0% -3.6% -3.6% -3.6% INVENTORY TURNOVER a.CURRENT PERIOD 4.00 4.00 4.10 4.02 b.PAST PERIOD 4.18 4.07 4.19 4.14 UNIT CHANGE a-b (0.18) (0.07) (0.08) (0.12) % CHANGE -4.3% -1.8% -2.0% -3.0% INVENTORY ON HAND (Days) a.CURRENT PERIOD 91 91 89 91 b.PAST PERIOD 87 90 87 88 UNIT CHANGE a-b 4 2 2 3 % CHANGE 4.4% 1.8% 2.0% 3.0%



TOTAL CLASSES 6-7 UNIT & PERCENT CHANGE




MONTH/ YEAR/ PAST 3 MOS/ YTD/Total Reported MONTH YEAR YR AGO 3 MOS YTDSALES (Units): a.CURRENT PERIOD 2,496 2,496 8,106 12,748 b.PAST PERIOD 2,806 2,430 7,924 12,606 UNIT CHANGE a-b (310) 66 182 142 % CHANGE -11.0% 2.7% 2.3% 1.1% AVERAGE SALE PRICE ($): a.CURRENT PERIOD 49,930$ 49,930$ 49,441$ 49,185$ b.PAST PERIOD 49,821$ 49,034$ 45,963$ 45,579$ UNIT CHANGE a-b 109$ 896$ 3,478$ 3,605$ % CHANGE 0.2% 1.8% 7.6% 7.9% AVERAGE MILES: a.CURRENT PERIOD 519,017 519,017 517,261 519,959 b.PAST PERIOD 516,589 534,417 554,125 552,507 UNIT CHANGE a-b 2,428 (15,401) (36,864) (32,548) % CHANGE 0.5% -2.9% -6.7% -5.9% AVERAGE AGE (Months): a.CURRENT PERIOD 88 88 88 89 b.PAST PERIOD 87 86 90 89 UNIT CHANGE a-b 1 3 (2) (1) % CHANGE 1.1% 3.2% -1.7% -1.0% Industry Estimate***RETAIL SALES (Units): a.CURRENT PERIOD 21,600 21,600 60,400 108,900 b.PAST PERIOD 22,600 20,600 63,700 104,900 UNIT CHANGE a-b (1,000) 1,000 (3,300) 4,000 % CHANGE -4.4% 4.9% -5.2% 3.8% PER DAY SALES (Units): a.CURRENT PERIOD 1,029 1,029 929 1,027 b.PAST PERIOD 1,027 896 980 980 UNIT CHANGE a-b 1 133 (51) 47 % CHANGE 0.1% 14.8% -5.2% 4.8% INVENTORY (Units) a.CURRENT PERIOD 47,000 47,000 47,000 47,000 b.PAST PERIOD 43,000 42,000 42,000 42,000 UNIT CHANGE a-b 4,000 5,000 5,000 5,000 % CHANGE 9.3% 11.9% 11.9% 11.9% INVENTORY TURNOVER a.CURRENT PERIOD 5.51 5.51 5.14 5.56 b.PAST PERIOD 6.31 5.89 6.07 5.99 UNIT CHANGE a-b (0.79) (0.37) (0.93) (0.43) % CHANGE -12.6% -6.3% -15.3% -7.2% INVENTORY ON HAND (Days) a.CURRENT PERIOD 66 66 71 66 b.PAST PERIOD 58 62 60 61 UNIT CHANGE a-b 8 4 11 5 % CHANGE 14.4% 6.7% 18.0% 7.8%


*** Estimate based upon extrapolation of reported data and application of various CV market heuristics. ****Since INVENTORY is non-additive, 3 month data points are actuals.

TOTAL CLASS 8 UNIT & PERCENT CHANGE





3-5 6-7 8 3-8TOTAL TOTAL TOTAL TOTAL

Total ReportedSALES (Units):. CURRENT MO. (x12) 2,112 2,796 29,952 34,860 . PAST 3 MO. (x4) 2,652 3,420 32,424 38,496 . PAST 6 MO. (x2) 2,242 3,344 30,600 36,186 . PAST 12 MO. 2,347 3,523 30,344 36,214 AVERAGE SALE PRICE ($):. CURRENT MO. 14,064$ 28,708$ 49,930$ 45,969$ . PAST 3 MO. 13,874$ 25,429$ 49,441$ 44,819$ . PAST 6 MO. 13,442$ 25,267$ 48,933$ 44,536$ . PAST 12 MO. 14,000$ 24,077$ 48,680$ 44,036$ AVERAGE MILES:. CURRENT MO. 158,390 173,464 519,017 470,265 . PAST 3 MO. 150,231 190,301 517,261 466,341 . PAST 6 MO. 152,780 202,470 518,967 471,192 . PAST 12 MO. 146,397 204,589 525,224 474,053 AVERAGE AGE (Months):. CURRENT MO. 121 110 88 92 . PAST 3 MO. 126 109 88 93 . PAST 6 MO. 123 108 89 93 . PAST 12 MO. 115 113 89 93

Industry Estimate***RETAIL SALES (Units):. CURRENT MO. (x12) 307,000 108,000 259,000 674,000 . PAST 3 MO. (x4) 318,000 111,000 242,000 671,000 . PAST 6 MO. (x2) 313,300 110,000 263,300 686,600 . PAST 12 MO. 308,300 110,800 258,300 677,400 PER DAY SALES (Units):. CURRENT MO. 1,219 429 1,029 2,676 . PAST 3 MO. 1,222 426 929 2,577 . PAST 6 MO. 1,214 426 1,021 2,661 . PAST 12 MO. 1,195 429 1,001 2,626 INVENTORY (Units). CURRENT MO. 90,000 27,000 47,000 164,000 . 3 MO AGO 88,000 29,000 47,000 164,000 . 6 MO AGO 91,000 28,000 43,000 162,000 . 12 MO AGO 88,000 28,000 42,000 158,000 INVENTORY TURNOVER. CURRENT MO. 3.41 4.00 5.51 4.11 . 3 MO AGO 3.61 3.83 5.15 4.09 . 6 MO AGO 3.44 3.93 6.12 4.24 . 12 MO AGO 3.50 3.96 6.15 4.29 INVENTORY ON HAND (Days). CURRENT MO. 107 91 66 89 . 3 MO AGO 101 95 71 89 . 6 MO AGO 106 93 60 86 . 12 MO AGO 104 92 59 85



SELECT TIME PERIOD COMPARISONS

May 2015

USED TRUCK INDUSTRY MANAGEMENT STATISTICS*UNITED STATES



CLASS 8: U.S. USED TRUCK AVERAGE SALE PRICEJanuary '09 - May '15

ACT Research Co., LLC: Copyright 2015

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The Class 8 average retail sale price continued to grow in May, but the rate of growth is still slowing.

CLASS 8: U.S. USED TRUCK AVERAGE SALE PRICE4 to 5 years old, 400-500,000 miles

January '09 - May '15


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The May average sale price dropped from April’s mark of $70,000, but remained above the six month average.


CLASSES 3-5: U.S. USED TRUCK SALESJanuary '09 - May '15 (Not Seasonally Adjusted)


09 10 11 12 13 14 150

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Sales of Classes 3-5 used trucks in May gave up much of the gain made in March.

CLASSES 3-5: U.S. USED TRUCK AVERAGE SALE PRICEJanuary '09 - May '15


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The average sale price of used Classes 3-5 trucks has been lower y/y in most of 2015 compared to 2014.


CLASSES 3-5: U.S. USED TRUCK AVERAGE MILESJanuary '09 - May '15


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The average miles for used Classes 3-5 vehicles ticked up in May, contributing to lower prices.

CLASSES 3-5: U.S. USED TRUCK AVERAGE AGE


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Total Reported (Months)


The average age of Classes 3-5 trucks saw a sizeable decrease in May, falling by eight months.


CLASSES 6-7: U.S. USED TRUCK SALESJanuary '09 - May '15 (Not Seasonally Adjusted)


09 10 11 12 13 14 150

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Although remaining above trend, the volume of used Classes 6-7 trucks sold in May slipped m/m.

CLASSES 6-7: U.S. USED TRUCK AVERAGE SALE PRICEJanuary '09 - May '15


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May’s average selling price of used Classes 6-7 trucks increased m/m and y/y.


CLASSES 6-7: U.S. USED TRUCK AVERAGE MILESJanuary '09 - May '15


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Average miles for used Classes 6-7 trucks continue to drop from the February peak.

CLASSES 6-7: U.S. USED TRUCK AVERAGE AGE


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108

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132

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156



The average age of used Classes 6-7 trucks appears to have stabilized in the short run.


CLASS 8: U.S. USED TRUCK SALESJanuary '09 - May '15 (Not Seasonally Adjusted)


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Used Class 8 sales slid lower in May, following strong March and April numbers.

CLASS 8: U.S. USED TRUCK AVERAGE SALE PRICEJanuary '09 - May '15


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Y/Y % Change



The average selling price of used Class 8 trucks was unchanged in May, but was still up slightly y/y.


CLASS 8: U.S. USED TRUCK AVERAGE MILESJanuary '09 - May '15


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May marked ten months of consecutive y/y declines in the average mileage of used Class 8 trucks.

CLASS 8: U.S. USED TRUCK AVERAGE AGE


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The average age of used Class 8 trucks has hovered in a narrow range for the past four months.


FREIGHTLINER CASCADIA AVERAGE SELLING PRICEJanuary '09 - May '15


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All Cascadias

6 MMA

Y/Y % Chg

'09-'11 Cascadias Y/Y% Chg.(right axis)

May’s average selling price of this model remained relatively flat compared to April.

FREIGHTLINER COLUMBIA AVERAGE SELLING PRICEJanuary '09 - May '15


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6 MMA

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The average selling price of ’09 to ’11 models increased slightly, but the overall price was lower.


INTERNATIONAL PROSTAR AVERAGE SELLING PRICEJanuary '09 - May '15


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75

100

125

150

175

200

225

250

-25

-50

Y/Y % Change

All PROSTARS

6 MMA

Y/Y % Chg

'09-'11 PROSTARsY/Y% Chg.(right axis)

May’s average selling price for this model moved higher, recovering from first quarter softness.

INTERNATIONAL 9400 AVERAGE SELLING PRICEJanuary '09 - May '15


09 10 11 12 13 14 15

0

10

20

30

40

-10


0

50

100

150

200

-50

Y/Y % Change

All 9400s

6 MMA

Y/Y % Chg

Pre '09 9400sY/Y% Chg.(right axis)

The average selling price of this model dropped in May, following a stretch of upward y/y trends.


KENWORTH T660 AVERAGE SELLING PRICEJanuary '09 - May '15


09 10 11 12 13 14 15

0

10

20

30

40

50

60

70

80

90

100

-10


0

50

100

150

200

250

300

350

400

450

500

-50

Y/Y % Change

All T660s

6 MMA

Y/Y % Chg

'09-'11 T660s


The average selling price of this model continued above trend and was positive y/y in May.

KENWORTH T2000 AVERAGE SELLING PRICEJanuary '09 - May '15


09 10 11 12 13 14 15

0

10

20

30

40

50

60

70

80

-10


0

50

100

150

200

250

300

350

400

-50

Y/Y % Change

All T2000s

6 MMA

Y/Y % Chg

'09-'11 T2000s

Pre '09 T2000s Y/Y% Chg.(right axis)

Average selling price for this model resumed its y/y downward trend, following a slight gain in April.


MACK CH613 AVERAGE SELLING PRICEJanuary '09 - May '15


09 10 11 12 13 14 15

0

10

20

30

40

50

60

70

80

90

-10

-20


0

50

100

150

200

250

300

350

400

450

-50

-100

Y/Y % Change

All CH613s

6 MMA

Y/Y % Chg

'09-'11 CH613s

Pre '09 CH613sY/Y% Chg.(right axis)

May pricing for younger trucks recovered, driving an increased average selling price for this model.

MACK CX613 AVERAGE SELLING PRICEJanuary '09 - May '15


09 10 11 12 13 14 15

0

20

40

60

80

100

-20


0

50

100

150

200

250

-50

Y/Y % Change

All CX613s

6 MMA

Y/Y % Chg

'09-'11 CX613s

Pre '09 CX613sY/Y% Chg.(right axis)

Average selling price for this model in May rose above trend, with an increased y/y gain.


PETERBILT 379 AVERAGE SELLING PRICEJanuary '09 - May '15


09 10 11 12 13 14 15

0

10

20

30

40

50

60

-10


0

50

100

150

200

250

300

-50

Y/Y % Change

All 379s

6 MMA

Y/Y % Chg

Pre '09 379sY/Y% Chg.(right axis)

The May average selling price of this model rose m/m and chalked up its 8th consecutive y/y gain.

PETERBILT 387 AVERAGE SELLING PRICEJanuary '09 - May '15


09 10 11 12 13 14 15

0

10

20

30

40

50

60

70

80

-10


0

50

100

150

200

250

300

350

400

-50

Y/Y % Change

All 387s

6 MMA

Y/Y % Chg

'09-'11 387s

Pre '09 387s Y/Y% Chg.(right axis)

Overall, the average selling price of this model showed a slight m/m increase, but remained below trend.


VOLVO 670 AVERAGE SELLING PRICEJanuary '09 - May '15


09 10 11 12 13 14 15

0

10

20

30

40

50

60

70

80

-10


0

50

100

150

200

250

300

350

400

-50

Y/Y % Change

All 670s

6 MMA

Y/Y % Chg

'09-'11 670s


The average selling price of this model continue on an upward trend, with a 24% y/y change in May.

VOLVO 780 AVERAGE SELLING PRICEJanuary '09 - May '15


09 10 11 12 13 14 15

0

20

40

60

80

100

120

-20


0

50

100

150

200

250

300

-50

Y/Y % Change

All 780s

6 MMA

Y/Y % Chg

'09-'11 780s


The average selling price for this model remained above trend in May and showed solid y/y progress.

ACT Research Co., LLC, 2015

STATE OF THE INDUSTRY SERIES U.S. CLASSES 3 - 8 USED TRUCKS

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