COLUMBUS, Ind. — According to the latest State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research, used Class 8 retail volumes (same dealer sales) jumped 18% month-over-month in March.
Average mileage declined by 5%, with average price up 4% and age down 2%. Longer term, average price, age and volumes were lower, with miles higher year-over-year.
“Same dealer Class 8 retail truck sales continued their topsy-turvy run in March, jumping 18% from February. Granted, sales normally experience a boost in March, but the increase is usually smaller, about 12%,” said Steve Tam, vice president at ACT Research. “The litmus test will come next month, with history indicating sales typically decrease around 10% from March.”
Combined, the total market rose 44% in March, relative to February.
Compared to March 2022, the retail and wholesale markets declined, -13% and -40%, respectively.
Their reductions more than counterweighted by the gain in the auction channel (+48%), resulting in a total market improvement of 4% year-over-year, Tam noted.
“As the year progresses, the year-to-date scenario continues to diverge from year-over-year performance,” Tam said. “The overall market held onto a narrow gain (+1%). Our best estimate suggests that inventory continues to increase, supporting buyers working to refresh their used truck fleets. Units are flowing from both increased new truck purchases/trades, as well as owners exiting the market. The most recent fleet bankruptcy data available show failures have increased but remain well below historical levels.”
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.
