Used Class 8 Truck Retail Sale Price Took Big Hit in June

ACT Research reports Class 8 average retail sale price took a big hit in June, slumping 7.6% m/m and 20% y/y to $54,300 units

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 took a big hit in June, slumping 7.6% m/m and 20% y/y to $54,300 units.

“We signaled the price drop last month, based on the fact that freight growth remains somewhat elusive,” said Steve Tam, Vice President at ACT Research. “Prices are expected to remain stable at this lower level through 2024, now transitioning to y/y growth in early 2025.”

Regarding volumes, Tam explained, “Same dealer Class 8 retail truck sales downshifted for a fourth consecutive month in June. The 16% drop was counter to the five percentage point seasonal gain indicated by history. June is typically about as average a month as can be. Wholesale activity improved 3.6% m/m, and in normal last-month-of-the-quarter fashion, auction sales swelled 42% m/m.” He added, “Combined, the total market same dealer sales volume rose 13% m/m in June.”

The report from ACT provides data on the average selling price, miles, and age based on a sample of industry data. In addition, the report provides the average selling price for top-selling Class 8 models for each of the major truck OEMs – Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo). This report is utilized by those throughout the industry, including commercial vehicle dealers, to gain a better understanding of the used truck market, especially as it relates to changes in near-term performance.

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