ACT Research: Used Class 8 sales start 2024 strong

ACT Research: Used Class 8 sales start 2024 strong

The preliminary numbers for January show used Class 8 trucks are selling well compared to both last month, and last year.

Preliminary Class 8 same dealer used truck retail sales volumes accelerated 17% month-over-month in January, according to the latest numbers from ACT Research. ACT adds that sales fared even better compared to 2023, with a 34% increase year-over-year.

“The retail sales gain is uncharacteristic, as sales typically slow in the new year. January retail sales historically lag the average month by about 9% and see an eight-percentage point decline from December,” says Steve Tam, vice president at ACT Research. “Auctions were 59% lower m/m, while wholesale activity slumped 20% m/m. In total, the used truck industry declined, with preliminary same dealer sales slowed 31% m/m.”

“Robust used truck demand suggests the opportunity for sales to improve moderately in February, as freight is showing nascent signs of growth,” Tam concluded.

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