ACT Research: Used Class 8 Truck Value Stabilization Still in Flux

According to ACT Research, the average retail sale price of a used Class 8 truck fell 1% month over month and 25% year over year to $62,900 in October.

“The past three months’ less-than-expected declines present mounting evidence of pricing stability. We expect lower prices through the end of 2023, with a return to [month-over-month] growth toward the end of 2024,” Steve Tam, vice president at ACT Research, said.

The commercial vehicle industry is currently questioning when values will stabilize, with Tam explaining, “The answer to that question seems to be in flux. There are still too many trucks chasing too little freight. Until the economy can strike a balance between those two factors, downward pressure on pricing will continue to exist. Once the excess capacity is absorbed, the freight rate environment and trucker profits will correct, restarting the cycle that is the commercial vehicle industry.”

Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.