According to the latest State of the Industry: U.S. Classes 3-8 Used Trucks by ACT Research, the Class 8 average retail sale price gained 6.2% month over month in June. On a year-over-year basis, prices were up 10.4%.
“Well, it finally happened. That average retail sale price of a used Class 8 truck increased year-over-year for the first time since December 2022. The comparisons have been getting progressively easier over the past two-and-a-half years. In addition, trucks sold in June were younger and had fewer miles on them, a trend that has been in play for some time,” Steve Tam, vice president at ACT Research, said. “But how are used trucks able to command higher prices when the economy and freight volumes are stagnant, spot freight rates seem like they are etched in stone, and used truck demand feels like it is moving sideways? The answer is not straight forward. The data and analysis are averages, and different segments of the industry are experiencing different realities. On top of that, hard-working used truck sales professionals are mining their customer databases in search of customers who may be in a position to buy.”
