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ACT Research: January used truck retails volumes climb 24% month-over-month

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ACT Research: January used truck retails volumes climb 24% month-over-month
Preliminary used Class 8 retail volumes (same dealer sales) increased 24% month-over-month and were just 2% higher compared to January of 2022, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. 

COLUMBUS, Ind. – Preliminary used Class 8 retail volumes (same dealer sales) increased 24% month-over-month and were just 2% higher compared to January of 2022, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.

Compared to December 2022:

  • Average retail price declined 5%.
  • Miles increased 9%.
  • And age declined 2%.

Compared to January of 2022:

  • Average retail price declined 14%.
  • Miles increased 4%.
  • And age was flat.
02 03 17 ACT Used Class 8 retail summary web
(courtesy: ACT Research)

“Most notably, Class 8 same dealer used truck retail sales volume benefited, jumping 24% m/m,” Steve Tam, vice president of ACT Research, said. “The gain was facilitated by a slew of new truck sales at the end of 2022.” He continued, “January used retail sales were even able to eke out a gain relative to January 2022. Though, we view January’s performance as a bit of an outlier and still expect sales to be lower in 2023.”

Tam said preliminary average retail prices of a used Class 8 truck sold in January dropped 5% m/m, to just over $75,600.

“That is 14% lower than January 2022. Comparisons are expected to become increasingly negative,” Tam said.

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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.
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