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 improved 2.6% month over month to $59,400 in January. The last time retail prices were this low was in the spring of 2021, according to a Feb. 27 statement released by ACT.
“On a year-over-year basis, used retail prices were 20% lower,” said Steve Tam, vice president at ACT. “Our pricing expectations remain steady, with a return to month-over-month growth toward the end of 2024 as the most likely course.”
While prices remain down, the overall market saw an increase in volume.
“Combined, the total market same dealer sales volume fell 35% month over month in January. Relative to January 2023, the retail market ticked up 0.6%. The auction segment soared 240% year over year, while wholesale volumes rocketed 193%,” Tam said. “Combined market results saw volumes increasing 46% y/y. Expectations for 2024 call for moderate growth relative to 2023.”
The report from ACT provides data on the average selling price, miles and age based on a sample of industry data. In addition, the report provides the average selling price for top-selling Class 8 models for each of the major truck OEMs — Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo).
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.
