Used truck sales at auction, retail and wholesale all increased in December, but were 9 percent lower than the previous year. The sales figure is based on a sampling of used truck dealers.
Steve Tam, vice president-commercial vehicle sector with ACT, said that the biggest factor is continued lack of sufficient inventory, “which is the limiting factor in sales growth. On pricing, we believe year-over-year pricing growth will continue to slow. Prices will not necessarily fall, but just grow at a slower rate.”
Net orders for trailers grew 38 percent year-over-year, while build increased 69 percent.
“Following some mid-year sponginess, the trailer industry ended 2011 on a particularly strong note: Orders in December were a virtual duplication of November’s five-year high, backlogs rose to their highest level this cycle, and cancellations were virtually non-existent,” said Kenny Vieth, president and senior analyst at ACT.