Used truck prices drop in U.S.: ACT Research
Retail prices of used Class 8 trucks dropped 3% between January and February, ACT Research reports in its latest analysis of the U.S. market.
Compared to February 2022, this February’s average retail volumes were down 20%, prices dropped 24%, average mileage increased 3%, and average used equipment age was down 2%.
“Progressively more negative” declines are the result of price increases in early 2022, ACT Research vice-president Steve Tam said in a press release. Those prices peaked in April.
Class 8 used truck sales increased 2% from January to February when it came to same-dealer activity in the U.S. But that paled in comparison to the 233% jump in auction sales and 55% increase in wholesale transactions.
Combined, it meant preliminary same-dealer used truck sales were up 49% month over month, according to ACT Research’s State of the Industry: U.S. Classes 3-8 Used Trucks report.
“Traditionally, February is not a particularly robust month for sales, but the cycle seems to keep finding ways to extend itself just a little further,” Tam said. “As new truck sales have slowed in January and February, it is safe to assume used truck volumes will follow suit in the next few months.
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