ACT Research says the used Class 8 average retail price is $59,300, the first time its dropped below $60,000 since April 2021.
"Less-than-expected declines in August, September and October may have been an early Christmas present," says Steve Tam, vice president at ACT. "Our expectations are unchanged, with lower prices through the end of 2023 and a return to month-over-month growth toward the end of 2024."
[RELATED: J.D. Power: Class 8 depreciation slowing]
Tam says total market same dealer sales volumes expanded 19% in November over October.
"With only one more month remaining in the year, the overall market has improved 35% year-to-date compared to the first eleven months of 2022," he says.
ACT's "State of the Industry: U.S. Classes 3-8 Used Trucks" provides data on the average selling price, miles and age based on a sample of industry data. It also provides the average selling price for top-selling Class 8 models for each major truck OEM.
