January Used Truck Retail Volumes Jumped 24% M/M

ACT Research reports preliminary used Class 8 retail volumes (same dealer sales) increased 24% month-over-month

Preliminary used Class 8 retail volumes (same dealer sales) increased 24% month-over-month and were just 2% higher compared to January of 2022, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. 

   

Average retail price declined 5%. 
•    Miles increased 9%. 
•    And age declined 2%. 

Compared to January of 2022: 
•    Average retail price declined 14%. 
•    Miles increased 4%. 
•    And age was flat.

According to Steve Tam, Vice President at ACT Research, “Most notably, Class 8 same dealer used truck retail sales volume benefited, jumping 24% m/m. The gain was facilitated by a slew of new truck sales at the end of 2022.” He continued, “January used retail sales were even able to eke out a gain relative to January 2022. Though, we view January’s performance as a bit of an outlier and still expect sales to be lower in 2023.”

Tam concluded, “The preliminary average retail prices of a used Class 8 truck sold in January dropped 5% m/m, to just over $75,600. That is 14% lower than January 2022. Comparisons are expected to become increasingly negative.”

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