Used Class 8 truck sales drop 1.5% amid weaker freight market

Used Class 8 truck sales drop 1.5% amid weaker freight market

In addition to the slight drop in m/m sales, ACT noted a 15% drop in used Class 8 pricing, y/y.

Used Class 8 retail truck sales dropped by 1.5% to $58,400 in May, according to the latest numbers from ACT Research. ACT said y/y, used retail prices were 15% lower. ACT Research Vice President Steve Tam suggests that the softer price outlook is due to a weaker than expected freight market. He expects that prices will stay stable through most of 2024 and transition to year-over-year growth in Q4.

“Same dealer Class 8 retail truck sales slowed for a third consecutive month in May,” Tam said. “The 3.9% decline matched the seasonal drop indicated by history. May is typically about five percentage points below average. Wholesale activity shrank by 11% m/m. The only volumes growth segment for May was auction sales, which added 36% m/m. Combined, the total market same dealer sales volume rose 11% m/m in May.”

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