According to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks report published by ACT Research, preliminary used Class 8 retail volumes (same dealer sales) decreased 10% month over month and were 30% lower compared to October 2021.

Other data released in the preliminary report included month-over-month comparisons for October 2022, which showed that average retail price ticked up 1%, average miles declined 1% and average age increased 3% from September’s readings. Compared to October of 2021, the average retail price was 14% higher, with average miles and age both greater by 1% and 2%, respectively.

“Drama in the used truck market increased in October, as the average retail sales price moved counter to expectations, ticking up a scant 1% m/m.” Steve Tam, vice president at ACT Research, said. “While a welcome change from the monotonous drumbeat of persistent decline, nothing fundamental that would recalibrate expectations has changed. Tracking the flow of new truck assembly can be informative with regard to the supply of used truck inventory. As the OEMs have continued to make incremental progress on overcoming supply-chain constraints, marginal improvements in output have logically followed. Looking ahead, other forces will step in and offset those improvements.”