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 took a big hit in June, slumping 7.6% month-to-month and 20% year-to-year to $54,300 units.
“We signaled the price drop last month based on the fact that freight growth remains somewhat elusive,” said Steve Tam, vice president at ACT Research. “Prices are expected to remain stable at this lower level through 2024, now transitioning to y/y growth in early 2025.”
Volumes also continued to drop during June.
“Same dealer Class 8 retail truck sales downshifted for a fourth consecutive month in June. The 16% drop was counter to the five percentage point seasonal gain indicated by history,” Tam said. “June is typically about as average a month as can be. Wholesale activity improved 3.6% m/m, and in normal last-month-of-the-quarter fashion, auction sales swelled 42% m/m.” He added, “Combined, the total market same dealer sales volume rose 13% m/m in June.
Born and raised in Little Rock, AR, Erica N. Guy decided to stay in her hometown to begin her professional career in journalism. Since obtaining her bachelor’s degree from UAPB, Erica has professionally written for several publications about several topics ranging from lifestyle, tech, culture, and entertainment, just to name a few. Continuing her love for her hometown, she joined our team in June 2023, where she is currently a staff writer. Her career goals include continuing storytelling through her writing by being the best professional writer she can be. In her spare time, Erica enjoys trying new foods, cozying up with a good book, spending time with family and friends, and establishing herself as a future businesswoman.
