COLUMBUS, Ind. — Used Class 8 retail volumes (same dealer sales) were down 19% month-over-month in November, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
Average mileage was down 1%, with average price down 3% and age up 2%, month-over-month. Longer term, average price and miles were higher year-over-year, with age up 7% year-over-year.
“Used truck sales typically see a meaningful fall off in November when compared with October, so the decline was in line with expectations,” Steve Tam, vice president at ACT Research, said. “Used Class 8 retail truck sales for November were also meaningfully weaker for longer-term comparisons, falling both year-over-year and year-to-date.”
He said near-term channel results show auction sales were up 46% compared to October, while wholesale activity softened 13% month-over-month. In total, the market was 3% lower in November than in October.
“We are expecting the total market to decline in 2022,” Tam said. “Looking ahead to 2023, the market is expected to continue falling as inflation triggers a short, shallow general recession, concentrated in the manufacturing segment.”
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.
