ACT Research: Used Class 8 value hits low last seen in 2021

ACT Research: Used Class 8 value hits low last seen in 2021

Despite the drop in price, ACT Research vice president Steve Tam says 2023 sales volume increased considerably.

According to ACT Research, the used Class 8 average retail sale price dropped 2.6% month-over-month to $58,000 in December. The last time we saw resale prices at that level was back in April 2021, ACT noted.

“On a year-over-year basis, used retail prices were 28% lower,” said Steve Tam, vice president at ACT Research. “Our pricing expectations remain steady, with a return to m/m growth toward the end of 2024 as the most likely course.”

“For the full year, total sales were up 40% compared to 2022,” Tam explained. “Auctions led the growth, improving 78%, with the wholesale market expanding by 75%. Growth in the retail market was more reserved at 12%.”

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