According to the latest State of the Industry: U.S. Classes 3-8 Used Trucks report by ACT Research, used Class 8 average retail sale prices fell 6% month over month to $59,300 in November, marking the first month with a sub-$60,000 average price since April 2021.

“Less-than-expected declines in August, September and October may have been an early Christmas present. Our expectations are unchanged, with lower prices through the end of 2023 and a return to [month-over-month] growth toward the end of 2024,” Steve Tam, vice president at ACT Research.

Regarding volumes, Tam said, “Combined, the total market same dealer sales volume expanded 19% [month over month] in November. With only one more month remaining in the year, the overall market has improved 35% [year to date] compared to the first 11 months of 2022.”