Used Class 8 trucks' average retail price rose by 5.6% month-over-month, ACT Research says, the largest percentage increase since March 2022.
"On a year-over-year basis, prices were 6% lower, while falling 7.7% year-to-date," says Steve Tam, vice president at ACT says. "Besides the usual factors the usual factors that influence used truck prices, such as mileage, age and condition, a number of other considerations are likely affecting recent pricing changes."
Tam says slowing new truck sales are also slowing down the flow of used inventory.
"Lack of new trucks may also be resulting in traditional new truck buyers looking to the secondary market, to substitute affordable, available used trucks for scarce, expensive new ones," he says. "Essentially, this is helping to tighten freight hauling capacity. Assuming freight stays steady, used truck prices rise as a result."
