Used Class 8 Value Stabilization Still in Flux

ACT Research reports used Class 8 average retail sale price fell 1% m/m and 25% y/y to $62,900 in October

According to the latest State of the Industry: U.S. Classes 3-8 Used Trucks by ACT Research, the used Class 8 average retail sale price fell 1% m/m and 25% y/y to $62,900 in October.

“The past three months’ less-than-expected declines present mounting evidence of pricing stability. We expect lower prices through the end of 2023, with a return to m/m growth toward the end of 2024,” said Steve Tam, Vice President at ACT Research.

The industry is currently questioning when values will stabilize. Tam explained, “The answer to that question seems to be in flux. There are still too many trucks chasing too little freight. Until the economy can strike a balance between those two factors, downward pressure on pricing will continue to exist. Once the excess capacity is absorbed, the freight rate environment and trucker profits will correct, restarting the cycle that is the commercial vehicle industry.”

Category: Equipment, Featured, Fleet Maintenance, General Update, News, Shop Stuff, Vehicles