According to the latest State of the Industry: U.S. Classes 3-8 Used Trucks by ACT Research, the used Class 8 average retail sale price slid 1.9% month over month to $58,900 in April.
“On a year-over-year basis, used retail prices were 17% 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 Y/Y growth in late Q3 or early Q4. Sequential growth most likely will take place at the end of 2024.”
“Same dealer Class 8 retail truck sales slowed for a second straight month in April. The 5.6% drop was less than the seasonal decline indicated by history. April typically falls ten percentage points from March, to about one percentage point below average. Wholesale activity contracted by a much greater amount, down 30% M/M. Predictably for the first month of the quarter, auction sales paled at -48% M/M,” Tam said. “Combined, the total market same dealer sales volume shrank 30% M/M in April,” Tam said.
