According to the latest numbers from ACT Research, the average retail sale price of a used Class 8 truck fell to $63,900 in September, down 1% month-over-month and 25% year-over-year.
Auction sales rose 135% month-over-month, in what ACT calls normal end-of-quarter fashion.
“We expect lower prices through the end of 2023,” said Steve Tam, vice president at ACT Research. “Though the industry typically sees a surge in auction activity during the last month of each quarter, it is reasonable to assume that any equipment owners who were considering selling their assets hurried to do so in September, ahead of the anticipated disposal of Yellow’s trucks and trailers.
“With three quarters of the year already in the history books, market performance is still accelerating,” Tam concluded. “The overall market has now expanded 25% YTD compared to the first nine months of 2022. And all of this is before the impact of the Yellow failure.”