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Used Class 8 truck sales jump in December as prices rise to $57,135 [Yahoo! Finance]
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Preliminary same-dealer retail sales of used Class 8 trucks increased 12% month over month in December, outperforming typical seasonal expectations that called for a 9% gain, ACT said in its State of the Industry: U.S. Classes 3-8 Used Trucks report. Total reported preliminary sales were 22% higher than November, aided by a sharp jump in auction volumes. For carriers and small fleets that rely on the used market rather than new equipment purchases, the December rebound could mark the beginning of the end of a buyer-friendly cycle. Auction sales rose 50% month over month, while wholesale activity declined for a second consecutive month, falling 7%, according to ACT Vice President Steve Tam. The diverging trends highlight an uneven recovery, with buyer interest returning selectively rather than broadly across all channels. “The preliminary average retail price of used Class 8 trucks rose month-to-month for the first time in five months in December, advancing 8.0% month-to-month
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- PACCAR (NASDAQ:PCAR) had its price target raised by analysts at JPMorgan Chase & Co. from $133.00 to $142.00. They now have an "overweight" rating on the stock.[MarketBeat]
- PACCAR (NASDAQ:PCAR) had its price target raised by analysts at Morgan Stanley from $93.00 to $102.00. They now have an "equal weight" rating on the stock.[MarketBeat]
- PACCAR (NASDAQ:PCAR) had its "neutral" rating reaffirmed by analysts at Citigroup Inc..[MarketBeat]
- Assessing PACCAR (PCAR) Valuation After Class 8 Order Surge Tariff Tailwinds And Insider Buying [Yahoo! Finance][Yahoo! Finance]
- PACCAR (PCAR) Is Up 5.3% After Surging Class 8 Orders And Insider Buying - Has The Bull Case Changed? [Yahoo! Finance][Yahoo! Finance]
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