ACT Research announced Tuesday in its most recent State of the Industry: U.S. Classes 3-8 Used Trucks report that used Class 8 retail volumes (same dealer sales) were up 29 percent month over month in August.
Average price was down 6 percent and average miles and age were up 4 and 1 percent, respectively. Longer term, the company says average price was higher year over year and year to date, as were average miles and age, with price up 64 percent year to date in August, miles up 3 percent and age being 3 percent older compared to 2021.
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“Same dealer retail sales of used Class 8 trucks popped in August,” says Steve Tam, vice president, ACT Research. “Used truck sales usually see a nice bump between July and August, but the level of sales exceeded expectations. Harkening back to comments in a previous report, new truck production is the most likely catalyst for the out-sized increase.”
He adds, “Looking ahead, the OEMs were unable to maintain June’s level of output in July, so used truck sales in September are likely to return to trend. However, August new truck production was also elevated, so October used truck sales should see some meaningful gains.”
He also notes that basic pattern also follows historical seasonality, “though this year is likely to see higher highs and lower lows, given ongoing constraints.”
