Trucks.com | Used Truck Values: Commercial Inventory Dipped in December
The market for heavy-duty used trucks improved slightly in December, according to a monthly analysis by Penton, an information services company.
Penton’s stability index, which measures resale price capacity based on the movement of market prices and activity, inched up to 99.5 from 97.74 in November.
Though average used truck values were flat from November, volume, or inventory, dropped 24 percent, which contributed to the improved outlook.
Analysts attributed the decline to a year-end rush by trucking companies to restock fleets and offset expenses accrued over the year.
“Buyers of new and used are so different, and timing can really throw things off,” Eric Starks, chairman and chief executive of trucking research firm FTR Transportation Intelligence told Trucks.com.
“We would like to see used start to pick up, and it usually does once freight market starts to move in March,” Starks said.
There was also an unusually high uptick in orders for new trucks reported by manufacturers this January.
The pace of big trucks orders over the past three months represented an annual equivalent of 248,000 units. Last year the U.S. and Canadian market contracted to 216,000 sales of Class 8 trucks after reaching 278,000 in 2015, according to FTR.
Read the full article by clicking here >
For more information about the work of FTR, follow on Twitter @ftrintel, sign up to receive the State of Freight TODAY monthly eNewsletter, or call Helen Lile at (888) 988-1699, ext. 1.
"...They provide valuable insight into market conditions which we use in our carrier discussions and to update our clients..."
Armada Supply Chain Solutions