According to the latest State of the Industry: U.S. Classes 3-8 Used Trucks report published by ACT Research, the average retail sale price for used Class 8 trucks fell 1% month over month and 25% year over year to $63,900 in September.
“A second month of stability fuels the question of whether the trough has started to firm. We expect lower prices through the end of 2023,” Steve Tam, vice president at ACT Research, said. “Seasonally, September is the fourth-best sales month of the year. Contributing to that, auction sales soared 135% [month over month] in normal end-of-quarter fashion. Though the industry typically sees a surge in auction activity during the last month of each quarter, it is reasonable to assume that any equipment owners who were considering selling their assets hurried to do so in September, ahead of the anticipated disposal of Yellow’s trucks and trailers. With three quarters of the year already in the history books, market performance is still accelerating, The overall market has now expanded 25% [year to date] compared to the first nine months of 2022, and all of this is before the impact of the Yellow failure.”
