According to ACT Research, the average retail sale price for a used Class 8 truck dropped 2.6% month over month to $58,000 in December, a level last seen in April 2021.

“On a year-over-year basis, used retail prices were 28% lower,” Steve Tam, vice president at ACT Research, said. “Our pricing expectations remain steady, with a return to [month-over-month] growth toward the end of 2024 as the most likely course.”

Regarding volumes, Tam said, “Combined, the total market same dealer sales volume [was] 24% in December. For the full year, total sales were up 40% compared to 2022. Auctions led the growth, improving 78%, with the wholesale market expanding by 75%. Growth in the retail market was more reserved at 12%.”