According to the latest State of the Industry: U.S. Classes 3-8 Used Trucks by ACT Research, the Class 8 average retail sale price slipped ever so slightly in October.
“A $225 decline resulted in a 0.4% m/m drop. On a y/y basis, prices were 13% lower,” said Steve Tam, Vice President at ACT Research. “Prices are expected to remain stable at or around the current level for the next couple of months before transitioning to y/y growth in early 2025.”
“Same dealer Class 8 retail truck sales jumped in October, abruptly ending a pattern of slowing. The 6.6% m/m increase easily bested the 2.1% seasonal growth indicated by history. October is typically the third-best sales month of the year, running more than 8% above average,” Tam explained.
State of the Industry: U.S. Classes 3-8 Used Trucks Report Overview
ACT’s Classes 3-8 Used Truck report provides data on the average selling price, miles, and age based on a sample of industry data. In addition, the report provides the average selling price for top-selling Class 8 models for each of the major truck OEMs – Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo). This report is utilized by those throughout the industry, including commercial vehicle dealers to gain a better understanding of the used truck market, especially as it relates to changes in near-term performance.
ACT Research Overview
ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.
Additional Resources
October preliminary Class 8 same dealer used truck retail sales volumes increased 29% m/m, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.
“Following the September preliminary release’s high-side surprise (+11%), final Class 8 same dealer used truck retail sales volumes declined 6.2%. We advised that the variation in participants could and did lead to different results,” according to Steve Tam, Vice President at ACT Research. “October Class 8 same dealer used truck retail sales volume growth appears to be shaping up for a similar scenario. Seasonality called for a decrease of about 3% m/m.”
Compared to September 2024:
- Average retail volumes increased 7%.
- Retail price was flat.
- Miles decreased 3%.
- And age was flat.
Compared to October 2023:
- Average retail volumes increased 6%.
- Price declined 13%.
- Miles was flat.
- And age decreased 1%.
Click here to learn more information about ACT's most subscribed report.
ACT Research is featured regularly by major news outlets for our work covering Class 8 truck orders, sales, forecasting, used truck sales, freight rates, trailer sales, and much more. Get more trends, HERE.
Save time with ACT Research’s media kit. Access ACT Research’s analyst bio, logos, press releases, video library, and more at your convenience. Our analysts are committed to delivering the most accurate data and forecasts. Looking for a speaker? Each analyst is available to speak at your conference or event. Access Media Kit Here.
