Retail used truck pricing officially trending negative year over year

Class 8 used truck heat map for November 2022

ACT Research reported Friday preliminary used Class 8 retail volumes (same dealer sales) decreased 15 percent month-over-month with prices also slipping by 3 percent compared to October. 

That volume total was down 38 percent year over year. Price remained up 1 percent over last November but has likely since shifted downward in December. Compared to November 2021, average miles and age were up by 3 and 1 percent.

“Positively, the average retail sales price of Class 8 trucks sold in November was above $80,000. Unfortunately, that means prices fell 3 percent compared to October,” says Steve Tam, vice president, ACT Research. “There is no escaping the reality that is excess freight hauling capacity in a declining economy and freight market. That simple fundamental imbalance carries quite a bit of sway when it comes to used truck pricing.

“The average retail used truck price has descended into negative year over year territory for the first time since August 2020. Welcome to the new normal,” he adds.

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