Used Class 8 Truck Price Growth Expectations Pushed Further Out

According to ACT Research, the used Class 8 average retail sale price improved 4.4% month over month to $62,100 in February.

“On a year-over-year basis, used retail prices were 14% lower,” Steve Tam, vice president at ACT Research, said. “Until recently, our pricing expectations were for a return to month-over-month growth toward the end of 2024 as the most likely course. Despite February’s encouraging results, recent developments are putting pressure on the forecast. Specifically, we are pushing expectations for the return to sustained month-over-month growth further out.

“Combined, the total market same dealer sales volume fell 43% month over month in February. Compared to February 2023, the retail market accelerated 29%. The auction segment rose 89% year over year, while wholesale volumes increased 143% year over year. Combined market results saw volumes increase 57% year over year. Expectations for 2024 call for moderate growth relative to 2023.”

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