Used retail prices see modest bump in February

Used truck chart from ACT Research

Used Class 8 average retail sales prices were up 4.4% month over month to $62,100 in February, ACT Research reported Wednesday. 

Prices were 14% lower on a year over year basis, says ACT Research Vice President Steve Tam. 

“Until recently, our pricing expectations were for a return to month-over-month growth toward the end of 2024 as the most likely course. Despite February’s encouraging results, recent developments are putting pressure on the forecast,” says Tam. â€śSpecifically, we are pushing expectations for the return to sustained month-over-month growth further out.”

Volumes were also down substantially, Tam says.

“Combined, the total market same dealer sales volume fell 43% month over month in February. Compared to February 2023, the retail market accelerated 29%. The auction segment rose 89% year over year, while wholesale volumes increased 143% year over year. Combined market results saw volumes increase 57% year over year. Expectations for 2024 call for moderate growth relative to 2023.”

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