Used Class 8 truck sales for 2022 total 245,000

Used Class 8 truck sales for 2022 total 245,000

Total Class 8 used truck market sales for 2022 were down about 7.5% from 2021.

According to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research, used Class 8 retail volumes (same dealer sales) increased 16% m/m in December. Average mileage was down 4% m/m, with average price and age down 2% and 3%, respectively. Longer term, average price and miles were lower, with age flat y/y.

“Activity typically sees a moderate increase in December, so the increase was directionally consistent with expectations,” said Steve Tam, vice president, ACT Research. “We ascribe the relative strength to the elevated new truck sales in November and December, which helped to sate pent-up demand in the inventory-starved used truck market. While the economy and freight markets are slowing, effectively cooling used truck demand, there are many used truck buyers who have been forced to hold onto their trucks beyond their expiration dates.

“Used Class 8 retail truck sales for December were still meaningfully weaker for longer-term comparisons, falling 30% y/y and 35% for all of 2022 compared to full year 2021,” he added. “We estimate the total Class 8 used truck market sales for 2022 were 245,000 units, down from 265,000 (-7.5%) in 2021.”

You May Also Like

Volvo on Demand battery electric truck adoption program launches

Volvo Trucks North America (VTNA) launched Volvo on Demand, a Truck-as-a-Service (TaaS) business model focused on battery electric trucks in collaboration with Volvo Financial Services (VFS). Volvo says Volvo on Demand was designed as a solution to simplify the acquisition and reduce the major upfront investment in battery-electric vehicles. Volvo on Demand provides qualified customers

Volvo Trucks North America (VTNA) launched Volvo on Demand, a Truck-as-a-Service (TaaS) business model focused on battery electric trucks in collaboration with Volvo Financial Services (VFS). Volvo says Volvo on Demand was designed as a solution to simplify the acquisition and reduce the major upfront investment in battery-electric vehicles. Volvo on Demand provides qualified customers with flexible term options as short as 12 months and includes Volvo Trucks’ Gold Contract and the option to bundle vehicle insurance for physical damage and collision, route planning and optimization guidance, as well as consultation to find the best charging solution and incentives that might be available.

Hino, Hexagon Purus launch Tern zero-emission truck brand, RC8 Class 8 truck

Hino Trucks and Hexagon Purus announced the launch of Tern, a new zero-emission truck brand along with their inaugural truck model, the RC8, a battery electric Class 8 tractor. Related Articles – Hyundai previews enhanced Xcient fuel cell truck – New Penske Energy initiative to advise, support fleets on electric truck infrastructure – Eaton to

Daimler announces battery repairing, remanufacturing, repurposing and recycling program

DTNA says the circular economy approach strives to extend the usability of rare-earth materials and products.

Daimler-Truck-North-America-Logo-1400
Kenworth T680, T880 trucks with Cummins X15N to begin production

Production of Kenworth T680 and T880 models with the new Cummins X15N natural gas engine will start in Q3 2024.

Kenworth-PACCAR-Cummins-X15N-Class-8-prudction-schedule
ACT Research numbers: Heavy-duty down, medium-duty up

ACT says after a year of unexpected growth, March orders may finally indicate a slowdown in capacity additions.

ACT-class-8-net-march-2024-orders

Other Posts

Daimler Truck reports good start to 2024

Despite lower Group unit sales, Daimler Truck says it continued toward a robust profitability in normalizing markets for Q1 2024.

Daimler-Truck-Q1-2024
Vipar Heavy Duty announces Latin America expansion plans

Plans include focusing on new locations, stockholders, and suppliers to serve the growing market.

VIPAR-Heavy-Duty-Latin-America-Expansion
Commercial tire market cautiously recovering from 2023 challenges

To better understand commercial tire expectations for the remainder of the year, we spolke with Pierluigi Cumo, VP of B2B products at Michelin North America.

Michelin-truck-tires
41 Volvo VNR EV trucks deployed by 4 Gen Logistics

The zero-emissions fleet will help the drayage company haul freight in southern CA, while advancing its commitment to sustainability.

4-Gen-logistics-Volvo-VNR-EV-electric-trucks