The average retail sale price of a used Class 8 truck jumped 6.2% month-over-month in June, ACT Research reports.
Year-over-year, that's a 10.4% hike.
[RELATED: Used channels saw price, volume inversions in June]
"Well, it finally happened," says Steve Tam, vice president at the company. "That average retail sale price of a used Class 8 truck increased year-over-year for the first time since December 2022."
Used trucks sold in June were also younger and had fewer miles on them, ACT says.
"But how are used trucks able to command higher prices when the economy and freight volumes are stagnant, spot freight rates seem like they are etched in stone, and used truck demand feels like it is moving sideways?" Tam asks. He says the answer isn't straight forward.
"The data and analysis are averages, and different segments of the industry are experiencing different realities," he says. "On top of that, hard-working used truck sales professionals are mining their customer databases in search of customers who may be in a position to buy."
The data was reported in the company's State of the Industry: U.S. Classes 3-8 Used Trucks.
