Today’s Pickup: Used truck sales rise in September

Trucks on lot.jpg

Good day,

Class 8 same dealer used truck sales volumes rose by two dozen units in September, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.

“Long term, the outlook is positive, with volumes up 19% year to date compared to same period last year,” said Steve Tam, Vice President at ACT Research. “Looking at the individual market segments, the retail segment was up 9% month over month and 28% year over year, but the auction and wholesale segments reported mixed results.”

The average price were down 3% compared to last September, but are up 5% since December.

“The year-to-date deficit narrowed slightly, to 7%,” noted Tam. “Channel analysis mirrored the total market results, with all three market segments reporting month-over-month increases and long-term deficits.”

Did you know?

 At the conclusion of its conference in Orlando, the ATA board elected Dave Manning, president of TCW, chairman. The board also named Barry Pottle, CEO of Pottle’s Transportation, as ATA first vice chairman and Randy Guillot, president of Triple G Express Inc., as ATA second vice chairman. Sherri Garner Brumbaugh, president of Garner Transportation, and Harold Summerford Jr., CEO of J&M Tank Lines Inc., were elected as ATA vice chairmen.

Quotable:

“There are two components to this. One is how well will people adapt? When you go from paper to electronic (logs), your business model changes. The second component is how many (independent) drivers change? How many participants leave the marketplace?”

- Mark Rourke, executive vice president and COO of Schneider National, on the impact of ELDs

In other news:

ATA elects Dave Manning new chairman

Dave Manning, president of Tennessee-based TCW, has been elected chairman of the ATA, replacing Kevin Burch. (Transport Topics)

Shippers bracing for capacity hit, higher rates from ELDs

Shippers are preparing themselves for the unknown when the ELD rule goes into effect on Dec. 18. But they are prepared to pay higher prices. (Supply Chain Dive)

FHWA seeks states willing to toll roads

The Federal Highway Administration is accepting applications for up to three states to join its pilot program by placing tolls on highways. (LandLine Magazine)

Dana Inc. names new CTO

Dana Inc. has named Christophe Dominiak chief technology officer, the company announced. (Fleet Owner)

Trump offers few hints on infrastructure during Senate meeting

President Trump met with senators this week, and while the topic of infrastructure came up, there were few new details to emerge. (The Hill)

Final Thoughts

According to reports, shippers seemed resigned to the fact that there will be less capacity and higher rates come December once the ELD mandate kicks in.

Hammer down everyone!

Comment

Brian Straight

Brian Straight has covered the U.S. trucking and transportation community for more than 10 years, winning numerous regional and national editorial awards, including a Jesse. H. Neal Award. Prior to working on FreightWaves, Brian spent 10 years at industry trade magazine Fleet Owner, and prior to that managed daily newspaper editorial operations.