According to the latest State of the Industry: U.S. Classes 3-8 Used Trucks report by ACT Research, the used Class 8 average retail sale price dipped 2.9% month over month to $60,100 in March.
“On a year-over-year basis, used retail prices were 20% lower,” Steve Tam, vice president at ACT Research, said. “In our most recent update, pricing pressure abated moderately from Q4/23 to Q1/24. Prices are expected to remain relatively stable through most of 2024, transitioning to year over year growth in late Q3 or early Q4. Sequential growth most likely will take place at the end of 2024.”
“March same dealer Class 8 retail truck sales pulled back sequentially, counter to the seasonal bump indicated by history,” Tam said. “However, the total market same dealer sales volume rose 17% from February to March. Compared to March 2023, the retail market advanced 3.9%. The auction segment swelled 48% year over year, with wholesale volumes more than doubling (+103% year over year). Combined market results saw volumes increase 26% year over year. Expectations for 2024 call for moderate growth relative to 2023.”
