Used Class 8 Truck Retail Sale Price Dropped in September
According to the latest *State of the Industry: U.S. Classes 3-8 Used Trucks* report from ACT Research, September saw a decline in average retail sale prices for Class 8 trucks, reversing some of the gains seen in August. The price dropped by 5.2% month-over-month, marking a significant shift in the market trend.
ACT's Used Class 8 Retail Summary
On a year-over-year basis, prices have fallen by 14%, and according to Steve Tam, Vice President at ACT Research, this lower level is expected to remain stable through 2024. He predicts that the market will begin to show year-over-year growth in early 2025.
“Class 8 retail truck sales at the same dealers declined by 2.3% in September, which closely matched the typical seasonal slowdown of 2.7%. September is usually the third-highest sales month of the year, with sales running about six percent above the annual average,†Tam explained. “The wholesale segment also saw a drop compared to August, with a 10% decrease. However, auction volumes rose sharply, up 34% month-over-month. When considering all three channels, total same dealer sales volume increased by 12% in September.â€
The *Classes 3-8 Used Truck* report from ACT Research offers comprehensive insights into the used truck market, including average selling prices, mileage, and vehicle age based on industry data. It also provides detailed pricing information for top-selling Class 8 models from major OEMs such as Freightliner (Daimler), Kenworth and Peterbilt (Paccar), International (Navistar), and Volvo and Mack (Volvo). This report is widely used by dealers and industry professionals to track market trends and make informed decisions.
ACT Research is a leading provider of commercial vehicle data and analysis, serving North America and China. Their reports are relied upon by major truck manufacturers, suppliers, and financial institutions. The company is also involved in key economic forecasting initiatives, including the Blue Chip Economic Indicators and the Wall Street Journal Economic Forecast Panel. ACT Research has earned recognition for its accurate forecasts and expert insights, with staff members receiving accolades from prestigious organizations such as the National Association for Business Economics and the Chicago Federal Reserve Automotive Outlook Symposium. For more information, visit www.actresearch.net.
