January Used Truck Retail Volumes Jump 24% M/M

According to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks report published by ACT Research, January used Class 8 retail volumes (same dealer sales) increased 24% month over month and were 2% higher compared to January of 2022.

Compared to December 2022:

  • Average retail price declined 5%
  • Miles increased 9%
  • Age declined 2%

Compared to January of 2022:

  • Average retail price declined 14%
  • Miles increased 4%
  • Age was flat

“Most notably, Class 8 same dealer used truck retail sales volume benefited, jumping 24% m/m,” Steve Tam, vice president at ACT Research, said. “The gain was facilitated by a slew of new truck sales at the end of 2022. January used retail sales were even able to eke out a gain relative to January 2022. Though, we view January’s performance as a bit of an outlier and still expect sales to be lower in 2023.”

The preliminary average retail prices of a used Class 8 truck sold in January dropped 5% m/m, to just over $75,600. That is 14% lower than January 2022. Comparisons are expected to become increasingly negative.”

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