Used truck shortages holding prices firm

COLUMBUS, Ind. – Despite a 10-percent tumble in July — reversing the market gain in the previous month – used truck prices continue to creep upward, ACT Research Co.

Lack of inventory continues to be a challenge for the industry, says ACT, with particular pressure in the late model, low mileage market segment.

The used market is about 4 percent behind last year’s pace.

"We expect both age and mileage of used trucks to continue to grow throughout the rest of 2011," said Steve Tam, vice president-commercial vehicle sector with ACT.

"Despite those trends, tight supply will result in used truck prices drifting further upward. While improving new truck sales will generate more trade-ins, providing some relief to used market pressures, we expect this will only act to soften growth in prices, not reverse it."