COLUMBUS, Ind. – Used Class 8 retail sales volumes and prices closed higher in 2021 than they did in 2020.
Used Class 8 retail volumes (same dealer sales) were 2% lower month-over-month.
Longer-term, volumes were down 28% year over year, but up 7% year to date.
Average prices were 2% higher compared to November, 66% more expensive than in December of 2020, and 40% greater year to date.
Average miles were flat month over month but up 4% year over year, while average age increased 4% from November and was 7% older compared to December of 2020.
“Used Class 8 same dealer retail sales volumes finished 2021 on a low note, dropping below the 4,000-unit mark for the first time in 20 months,” Steve Tam, vice president at ACT Research, said. He continued, “Positively, retail dealers were able to sell 7% more units in 2021 vs. 2020, putting COVID farther into the review mirror.”
Tam said near-term channel results were wildly disparate, with auction sales more than doubling month over month while wholesale activity was lower.
He said the auction and wholesale markets also experienced lower volumes compared to December 2020, with auction sales coming in 36% lower and wholesale deals lagging by 31%.
“Looking ahead, our assumption is that the US will make some progress on the supply-chain front, leading to continued freight growth, albeit at a slower rate than we saw in 2021,” Tam said. “As a result, our new Class 8 truck sales forecast expects to see US sales improve, and by extension, used truck sales volumes should also improve, with used truck prices starting on a sequential decline path, but remaining higher year-over-year through most, if not all, of the first half of 2022. Key to this projection is the rate at which freight hauling capacity rebalances.”
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.
