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 ebbed 1.5% lower month-over-month to $58,400 in May.
“On a year-over-year basis, used retail prices were 15% lower,” said vice president at ACT Research, Steve Tam. “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 year-over-year growth in Q4. Sequential growth most likely will take place at the end of 2024.”
Regarding volumes, Tam added that same dealer Class 8 retail truck sales slowed for a third consecutive month in May.
“The 3.9% decline matched the seasonal drop indicated by history,” Tam said. “May is typically about five percentage points below average. Wholesale activity shrank by 11% m/m. The only volumes growth segment for May was auction sales, which added 36% month-over-month. Combined, the total market same dealer sales volume rose 11% month-over-month in May.”
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
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