Used Class 8 Values Declined in November to a Level Not Seen Since 2021

ACT Research reports U.S. Classes 3-8 Used Trucks by ACT Research, the used Class 8 average retail sale price fell 6% m/m to $59,300 in November

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 6% m/m to $59,300 in November, marking the first month of a sub-$60,000 price since April 2021.

“Less-than-expected declines in August, September, and October may have been an early Christmas present. Our expectations are unchanged, with lower prices through the end of 2023 and a return to m/m growth toward the end of 2024,” said Steve Tam, Vice President at ACT Research.

Regarding volumes, Tam explained, “Combined, the total market same dealer sales volume expanded 19% m/m in November. With only one more month remaining in the year, the overall market has improved 35% ytd compared to the first eleven months of 2022.”

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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