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 dropped 2.6 percent month/month to $58,000 in December. Retail prices last saw that level in April 2021.

“On a year-over-year basis, used retail prices were 28 percent lower,” said Steve Tam, Vice President at ACT Research. “Our pricing expectations remain steady, with a return to m/m growth toward the end of 2024 as the most likely course.”

Regarding volumes, Tam explained, “Combined, the total market same dealer sales volume 24 percent in December. For the full year, total sales were up 40 percent compared to 2022. Auctions led the growth, improving 78 percent, with the wholesale market expanding by 75 percent. Growth in the retail market was more reserved at 12 percent.”