Used Class 8 truck prices continued to slide in April, ACT Research says.
"On a year-over-year basis, used retail prices were 17% lower, says Steve Tam, vice president at ACT Research. Month-over-month, prices are off 1.9% to $58,900. Tam says he expects pricing to remain stable through the rest of the year, transitioning to year-over-year growth in the late third quarter or early fourth quarter.
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"Sequential growth most likely will take place at the end of 2024," Tam says. ACT's report also provides data on the average selling price, miles and age based on a sample of industry data, as well as the average selling price for top-selling Class 8 models for each of the major truck OEMs.
"Same dealer Class 8 retail truck sales slowed for a second straight month in April," Tam says. "The 5.6% drop was less than the seasonal decline indicated by history. April typically falls 10 percentage points from March, to about one percentage point below average. Wholesale activity contracted by a much greater amount, down 30% month-over-month. Predictably for the first month of the quarter, auction sales paled at -48% month-over-month. Combined, the total market same dealer sales volume shrank 30% month-over-month. in April."
