COLUMBUS, Ind. — Previously owned Peterbilts, Kenworths, Volvos and Macks — or any other brand of Class 8 tractor for that matter — have been priced slightly lower lately.
All told, those new-to-you rigs have been selling for almost 2% less.
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 slid 1.9% month-over-month to $58,900 in April.
“On a year-over-year basis, used retail prices were 17% lower,” said Steve Tam, vice president at ACT Research. “In our most recent update, pricing pressure abated moderately from Q4’23 to Q1’24. Prices are expected to remain relatively stable through most of 2024, transitioning to year-over-year growth in late Q3 or early Q4. Sequential growth most likely will take place at the end of 2024.”
Regarding volumes, Tam explained that same dealer Class 8 retail truck sales slowed for a second straight month in April.
“The 5.6% drop was less than the seasonal decline indicated by history,” he said. “April typically falls 10 percentage points from March, to about one percentage point below average.”
Tam said that wholesale activity contracted by a much greater amount, down 30% month-over-month.
“Predictably for the first month of the quarter, auction sales paled at -48% month-over-month,” he said. “Combined, the total market same dealer sales volume shrank 30% month-over-month in April.”
Born in Pine Bluff, Arkansas, and raised in East Texas, John Worthen returned to his home state to attend college in 1998 and decided to make his life in The Natural State. Worthen is a 20-year veteran of the journalism industry and has covered just about every topic there is. He has a passion for writing and telling stories. He has worked as a beat reporter and bureau chief for a statewide newspaper and as managing editor of a regional newspaper in Arkansas. Additionally, Worthen has been a prolific freelance journalist for two decades, and has been published in several travel magazines and on travel websites.
