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 ebbed 1.5% lower month over month to $58,400 in May.

“On a year-over-year basis, used retail prices were 15% lower,” Steve Tam, vice president at ACT Research, said. “We anticipate the price outlook will soften in our next update, owing to a weaker than expected freight market. Prices are expected to remain stable through most of 2024, transitioning to year over year growth in Q4. Sequential growth most likely will take place at the end of 2024.”

“Same dealer Class 8 retail truck sales slowed for a third consecutive month in May. The 3.9% decline matched the seasonal drop indicated by history,” Tam said. “May is typically about five percentage points below average. Wholesale activity shrank by 11% month over month. The only volumes growth segment for May was auction sales, which added 36% month over month. Combined, the total market same dealer sales volume rose 11% month over month in May.”