COLUMBUS, Ind. — Preliminary Class 8 same dealer used truck retail sales volume managed a small gain, rising 2% month-over-month in February, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.
“The small improvement paled in comparison to the 233% sequential increase in auctions sales and a 55% jump in wholesale transactions,” the report noted. “Combined, the used truck industry saw preliminary same dealer sales increase 49% month-over-month.”
Compared to January 2023:
- Average retail volumes increased 2%.
- Retail price declined 3%.
- Miles were flat.
- And age declined 3%.
Compared to February 2022:
- Average retail volumes declined 20%.
- Price declined 24%.
- Miles increased 3%.
- And age declined 2%.
According to ACT Research Vice President Steve Tam, “Traditionally, February is not a particularly robust month for sales, but the cycle seems to keep finding ways to extend itself just a little further.”
Tam added that as new truck sales have slowed in January and February, “it is safe to assume used truck volumes will follow suit in the next few months.”
Declines are becoming progressively more negative because prices increased in early 2022, reaching their zenith in April, he noted.
“While the retail market held up reasonably well in February, the preliminary average sale price for all units, including auction and wholesale transactions, fell an astounding 20% month-over-month,” Tam concluded.
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.
