In a market growing even hotter in September, the average price for a used Class 8 and for a 3-year-old Class 8 set records, blowing past those set a month earlier. The average price for an 8-year-old heavy-duty used truck even took an unexpected and dramatic leap higher, ACT Research reported.
The average price for a used Class 8 reached $66,258 compared with $42,069 a year earlier, a gain of 57.4%. September’s price replaced the previous record of $63,079 set in August, according to ACT.
The average price for a 3-year-old Class 8 reached $103,194 — passing the $100,000 threshold for the second time in a row. A year ago, the segment’s average price was $70,684. August set the previous record of $101,241.
The average price for an 8-year-old truck rocketed to $32,400, or 63.3% higher compared with $19,835 a year earlier. In August, such a truck cost $19,295. ACT Vice President Steve Tam could not explain the unexpected jump.
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aleswere 22,800, up from 20,200 a year earlier, and flat with a month earlier.
“Now is probably the time when folks start to say ‘the market is getting kind of peakish,” Tam told Transport Topics.
He said at two recent auctions a week apart there was a 10% increase in price for basically the same Class 8.
“It’s nothing short of insane,” Tam said.
Ultimately, things will slow down…. For the complete article visit transport topics: September Sales
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