According to the latest State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research, used Class 8 average retail sale price fell 1 percent month over month and 25 percent year over year to $63,900 in September.

“A second month of stability fuels the question of whether the trough has started to firm,” said Steve Tam, Vice President at ACT Research. “We expect lower prices through the end of 2023.”

Regarding surging auction sales, Tam shared, “Seasonally, September is the fourth-best sales month of the year. Contributing to that, auction sales soared 135 percent M/M in normal end of quarter fashion.” He continued, “Though the industry typically sees a surge in auction activity during the last month of each quarter, it is reasonable to assume that any equipment owners who were considering selling their assets hurried to do so in September, ahead of the anticipated disposal of Yellow’s trucks and trailers.”

Tam concluded, “With three quarters of the year already in the history books, market performance is still accelerating. The overall market has now expanded 25 percent YTD compared to the first nine months of 2022. And all of this is before the impact of the Yellow failure.”