Used Class 8 Truck Retail Sale Price Dropped in September
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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 the gains seen in August. The price dropped by 5.2% month-over-month, marking a notable 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 a potential return to year-over-year growth in early 2025 as the market stabilizes.
Tam also noted that same dealer Class 8 retail sales declined by 2.3% in September, closely matching the typical seasonal slowdown of 2.7%. September is usually the third-highest sales month of the year, with sales typically running about 6% above average. Meanwhile, wholesale volumes fell by 10% compared to August. However, auction activity increased significantly, rising by 34% month-over-month — a common trend during the third month of the quarter. When combining all three channels, total same dealer sales volume increased by 12% in September.
The *U.S. Classes 3-8 Used Trucks* report from ACT Research offers comprehensive insights into the used truck market, including average selling prices, mileage, and vehicle age based on industry data samples. It also breaks down the average selling prices of 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 serves as a key resource for dealers and industry professionals looking to understand current trends and near-term performance in the used truck market.
ACT Research is a leading provider of data, analysis, and forecasts related to commercial vehicles, trailers, and buses across North America and China. Their insights are widely used by major truck and trailer manufacturers, suppliers, and financial institutions. ACT Research is also involved in economic forecasting, contributing to the Blue Chip Economic Indicators and participating in the Wall Street Journal Economic Forecast Panel. The company has earned numerous accolades, including recognition from the National Association for Business Economics and the Lawrence R. Klein Award for accurate long-term economic forecasts. For more information, visit www.actresearch.net.