Preliminary used Class 8 retail volumes (same dealer sales) increased 24% month-over-month and were just 2% higher compared to January of 2022, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.
Compared to December 2022
- Average retail price declined 5%.
- Miles increased 9%.
- Age declined 2%.
Compared to January 2022
- Average retail price declined 14%.
- Miles increased 4%.
- Age was flat.
“Most notably, Class 8 same dealer used truck retail sales volume benefited, jumping 24% m/m. The gain was facilitated by a slew of new truck sales at the end of 2022,” said Steve Tam, vice president, ACT Research. “January used retail sales were even able to eke out a gain relative to January 2022. Though, we view January’s performance as a bit of an outlier and still expect sales to be lower in 2023.
“The preliminary average retail prices of a used Class 8 truck sold in January dropped 5% m/m, to just over $75,600,” he added. “That is 14% lower than January 2022. Comparisons are expected to become increasingly negative.”
