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 ebbed 1.5 percent lower m/m to $58,400 in May.
“On a year-over-year basis, used retail prices were 15 percent lower,” said Steve Tam, Vice President at ACT Research. “We anticipate the price outlook will soften in our next update, owing to a weaker than expected freight market. Prices are expected to remain stable through most of 2024, transitioning to y/y growth in Q4. Sequential growth most likely will take place at the end of 2024.”
Regarding volumes, Tam explained, “Same dealer Class 8 retail truck sales slowed for a third consecutive month in May. The 3.9 percent decline matched the seasonal drop indicated by history. May is typically about five percentage points below average. Wholesale activity shrank by 11 percent m/m. The only volumes growth segment for May was auction sales, which added 36 percent m/m.” He added, “Combined, the total market same dealer sales volume rose 11 percent m/m in May.”