Average mileage for used trucks sold in December was down 4% from November, with average price and age down 2% and 3%, respectively. Longer term, average price and miles were lower, with age flat year-over-year.
“Activity typically sees a moderate increase in December, so the increase was directionally consistent with expectations,” said Steve Tam, Vice President at ACT Research. “We ascribe the relative strength to the elevated new truck sales in November and December, which helped to sate pent-up demand in the inventory-starved used truck market.”
Tam noted that while there have been slowdowns in the economy and freight market, in turn lowering used truck demand, “there are many used truck buyers who have been forced to hold onto their trucks beyond their expiration dates.”
Overall, used Class 8 truck sales “were still meaningfully weaker for longer-term comparisons,” with sales being down 30% year-over-year in December and down 35% for all of 2022 compared to 2021.
What organizers call the "biggest little truck show in the country" takes place the first weekend of next month.
The Mid-West Truck & Trailer Show is Feb. 3-4 at the Peoria (Illinois) Civic Center. It's organized by the Mid-West Truckers Association, which also holds its annual convention; the registration deadline for the convention is Jan. 30. The show is free to the general public.
The truck show is open from 9 a.m. to 5 p.m. Friday and 9 a.m. to 4 p.m. Saturday.
In addition to a variety of exhibitors, the show includes several special events.
The Safe & Courteous Driver Award is open to all members of the Mid-West Truckers Association and their drivers.
The show also includes the Truckers Pride Contest truck show, which is open to trucks of all makes, models, and years. There will be a People's Choice award based on show attendees, and a Driver's Choice award voted on by participants in the truck show.
There is a slate of educational programs open to association members.
This year's show also features the first kids' pedal semi pull, "Pull for a Cure,” Saturday, Feb. 4 at 2 p.m. on the show floor. Sponsored by Truck Centers, Inc., "Pull for a Cure" will cost $25 per entrant, with all proceeds going to pediatric cancer research. There are no age restrictions for participants, but rather classes will be based on weight (maximum 80 pounds). Kids will have one attempt to pull as far as possible. There will be prizes for each class. Registration for Pull for a Cure is required.
Source: https://www.overdriveonline.com/equipment/article/15306074/used-truck-sales-picked-up-in-december
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Posted Date : January 30 2023
