Used Class 8 Truck Retail Sale Price Dropped in September
Posted on
According to the latest edition of State of the Industry: U.S. Classes 3-8 Used Trucks, released by ACT Research, September marked a shift from the robust figures seen in August concerning the average retail sale price for Class 8 trucks. This key metric dropped by 5.2% month-over-month (m/m).
ACT's Used Class 8 Retail Summary
Year-over-year (y/y), the average price has fallen by 14%. Industry experts predict that these prices will stabilize at this reduced level through 2024, with a return to year-over-year growth anticipated to begin in early 2025. "The pace of sales for Class 8 trucks handled by the same dealerships continued to slow in September, aligning with historical trends," noted Steve Tam, Vice President at ACT Research. "Retail sales dipped by 2.3%, closely mirroring the typical seasonal decline of 2.7% observed during this time of year. September is usually the third-strongest sales month, often outperforming the average by six percent. Meanwhile, the wholesale segment witnessed a 10% drop in volumes compared to August. Conversely, auction volumes saw an uptick of 34% month-over-month, a common occurrence in the third month of any given quarter. When combining all three distribution channels, overall same-dealer sales volume for Class 8 trucks increased by 12% month-over-month in September," Tam added.
Overview of the State of the Industry: U.S. Classes 3-8 Used Trucks Report
The Classes 3-8 Used Truck report published by ACT Research offers insights into the average selling price, mileage, and age of trucks, leveraging a representative sample of industry data. Additionally, the report provides detailed pricing information for the top-selling Class 8 models from major Original Equipment Manufacturers (OEMs), such as Freightliner (Daimler), Kenworth and Peterbilt (Paccar), International (Navistar), and Volvo and Mack (Volvo). This comprehensive resource is widely used by stakeholders across the industry, particularly commercial vehicle dealers, to deepen their understanding of the used truck market, especially in terms of short-term performance fluctuations.
About ACT Research
ACT Research is globally acknowledged as a premier provider of data, market analysis, and forecasts for the commercial vehicle, truck, trailer, and bus industries in North America and China. Major North American truck and trailer manufacturers, along with their suppliers, rely on ACT’s analytical tools, alongside financial institutions and investment firms. ACT Research contributes to the prestigious Blue Chip Economic Indicators and is part of the Wall Street Journal Economic Forecast Panel. Its leadership has been honored with numerous accolades, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for the most accurate economic forecast over a four-year span. Members of ACT Research’s senior team have also been recognized with honors like the Chicago Federal Reserve Automotive Outlook Symposium’s Best Overall Forecast, the Wall Street Journal’s Top Economic Outlook, and inclusion among USA Today’s Top 10 Economic Forecasters. For further information, visit www.actresearch.net.
