According to the latest release of ACT Research’s State of the Industry: U.S. Classes 3-8 Used Trucks Flash, preliminary same dealer retail sales of used Class 8 trucks declined for a second consecutive month in September, falling 7% month-over-month.
While auction sales surged 28% and wholesale transactions slipped 6% from August, total preliminary sales across all channels were up 6% sequentially, signaling that demand for used trucks remains fundamentally solid despite mixed results by channel.
The preliminary average retail price for same dealer sales of used Class 8 trucks softened more than seasonally expected, dipping 1.5% from August to $61,000. Pricing in both auction and wholesale markets also contracted, with the combined preliminary average sale price for all units dropping 7.1% month-over-month.
“While tighter inventories have been a persistent theme, it’s clear that higher interest rates and ongoing challenges in the driver pool and fuel costs are also influencing the used truck market,” Steve Tam, vice president at ACT Research, said. “Despite these headwinds, the sequential uptick in total sales and continued strength in freight activity suggest that underlying demand for used equipment remains resilient.”
