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 notable decline in the average retail sale price 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
ACT's Used Class 8 Retail Summary
On an annual 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 from the same dealers declined by 2.3% in September, following a similar seasonal slowdown of 2.7% historically. September is typically the third-highest sales month of the year, with sales running about six percent above the yearly average. Meanwhile, wholesale volumes dropped by 10% compared to August. However, auction activity increased significantly, up 34% month-over-month, which is common during the third month of the quarter. When combining all three channels—retail, wholesale, and auctions—total same dealer sales volume rose by 12% in September,” Tam explained. The *State of the Industry: U.S. Classes 3-8 Used Trucks* report offers comprehensive insights into the used truck market. It includes data on average selling prices, vehicle mileage, and age based on a broad industry sample. Additionally, it breaks down the average selling prices for top-selling Class 8 models from major manufacturers such as Freightliner (Daimler), Kenworth and Peterbilt (Paccar), International (Navistar), and Volvo and Mack (Volvo). This report is widely used by commercial vehicle dealers and industry professionals to better understand market trends and near-term performance. ACT Research is a leading provider of data, analysis, and forecasts related to the commercial vehicle industry, covering North America and China. Their services are utilized by major truck and trailer manufacturers, their suppliers, and financial institutions. ACT is also a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. Its executives have received numerous accolades, including recognition from the National Association for Business Economics and the National Private Truck Council. ACT Research’s team has consistently delivered accurate economic forecasts, earning them spots on lists like the Wall Street Journal Top Economic Outlook and USA Today Top 10 Economic Forecasters. For more information, visit www.actresearch.net.

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