The average Class 8 retail sales price tumbled in June, slipping 7.6% to $54,300, ACT Research said Friday. That's a 20% drop year-over-year.
"We signaled the price drop last month, based on the fact that freight growth remains somewhat elusive," says Steve Tam, vice president at ACT. "Prices are expected to remain stable at this lower level through 2024, now transitioning to year-over-year growth in early 2025."
[RELATED: For-hire trucking industry creeps closer to balance]
Volumes are a mixed bag, ACT's numbers showed. Same-dealer Class 8 retail sales are down for a fourth consecutive month.
"The 16% drop was counter to the five percentage point seasonal gain indicated by history. June is typically as average as a month can be," Tam says. "Wholesale activity improved 3.6% month-over-month, and in normal last-month-of-the-quarter fashion, auction sales swelled 42% month-over-month. Combined, the total market same dealer sales volume rose 13% month-over-month in June."
[RELATED: ACT: June's Class 8 orders dip, production chews up backlog]
ACT's State of the Industry: U.S. Classes 3-8 Used Trucks provides data on the average selling price, miles and age of trucks based on a sample of industry data. It also provides the average selling price for top-selling Class 8 models for each of the major truck OEMs.
