COLUMBUS, Ind. — According to the latest State of the Industry: U.S. Classes 3-8 Used Trucks by ACT Research, the used Class 8 average retail sale price improved 2.6% month over month to $59,400 in January. The last time retail prices were this low was in the spring of 2021, according to a Feb. 27 statement released by ACT.
“On a year-over-year basis, used retail prices were 20% lower,” said Steve Tam, vice president at ACT. “Our pricing expectations remain steady, with a return to month-over-month growth toward the end of 2024 as the most likely course.”
While prices remain down, the overall market saw an increase in volume.
“Combined, the total market same dealer sales volume fell 35% month over month in January. Relative to January 2023, the retail market ticked up 0.6%. The auction segment soared 240% year over year, while wholesale volumes rocketed 193%,” Tam said. “Combined market results saw volumes increasing 46% y/y. Expectations for 2024 call for moderate growth relative to 2023.”
The report from ACT provides data on the average selling price, miles and age based on a sample of industry data. In addition, the report provides the average selling price for top-selling Class 8 models for each of the major truck OEMs — Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo).
Linda Garner-Bunch has been in publishing for more than 30 years. You name it, Linda has written about it. She has served as an editor for a group of national do-it-yourself publications and has coordinated the real estate section of Arkansas’ only statewide newspaper, in addition to working on a variety of niche publications ranging from bridal magazines to high-school sports previews and everything in between. She is also an experienced photographer and copy editor who enjoys telling the stories of the “Knights of the Highway,” as she calls our nation’s truck drivers.
