Used truck sales end 2023 with a strong showing

Used truck sales end 2023 with a strong showing

Significant increases for both month-to-month and year-to-year numbers.

The latest preliminary numbers from ACT Research show that Class 8 same dealer used truck sales ended 2023 on a high note, with volumes jumping 22% month-to-month from November to December. On top of that, sale volumes were up 40% compared to December of 2022.

That’s significantly more than normal seasonality would suggest, according to the latest preliminary numbers from ACT Research. Average retail price also rose by 1% from November 2023, while miles and age dropped 2% and 3%, respectively, ACT found. Year-to-year but price, miles, and age declined.

“Auction volumes were 47% higher m/m, while wholesaler transactions jumped 9% m/m,” said Steve Tam, Vice President at ACT Research. “In total, the used truck industry advanced, with preliminary same dealer sales accelerating 34% m/m. December sales are historically close to average and see an eight-percentage point gain from November. Framed in that context, used truck demand seems solid.”

Tam says despite this increase, ACT expects sales to slow in January, due to the “bitter cold some of trucking’s hot spots are experiencing.”

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