According to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research, used Class 8 retail volumes were up 29% month-to-month. Average price was down 6%, with average miles and age up 4% and 1%, respectively, mont-to-month. Longer term, average price was higher year-to-year and year-to-date, as were average miles and age, with price up 64% year-to-date August, average miles 4% higher compared to the first eight months of 2021 and average age 3% older for the same time period.

“Same dealer retail sales of used Class 8 trucks popped in August, jumping 29% month-to-month,” Steve Tam, VP at ACT Research, said. “Used truck sales usually see a nice bump between July and August, but the level of sales exceeded expectations. Harkening back to comments in a previous report, new truck production is the most likely catalyst for the out-sized increase.

“Looking ahead, the OEMs were unable to maintain June’s level of output in July, so used truck sales in September are likely to return to trend,” Tam said. “However, August new truck production was also elevated, so October used truck sales should see some meaningful gains. For what it is worth, that basic pattern also follows historical seasonality, though this year is likely to see higher highs and lower lows, given ongoing constraints.”