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Used Class 8 Truck Retail Sale Price Dropped in September
According to the most recent edition of ACT Research's *State of the Industry: U.S. Classes 3-8 Used Trucks*, September’s figures revealed a notable decline in the average retail sale price for Class 8 trucks, reversing the upward trend seen in August. This drop amounted to a 5.2% month-over-month (m/m) decrease.
The accompanying chart, provided by ACT, offers a detailed summary of the used Class 8 retail market, showing how prices have shifted over time.
Looking at the year-over-year (y/y) comparison, prices were 14% lower than they were last year. According to Steve Tam, Vice President at ACT Research, these prices are anticipated to stabilize at or around this reduced level throughout 2024, with expectations for year-over-year growth resuming in early 2025.
Speaking about the retail side, Tam noted that same-dealer Class 8 truck sales experienced a slight dip in September, continuing a recurring pattern of slower sales. The 2.3% drop mirrored the typical seasonal slowdown of 2.7% observed historically. September is generally the third-strongest sales month of the year, usually exceeding the average by six percent. However, the wholesale segment also saw a reduction in volumes compared to August, declining by 10%. On the other hand, auction volumes saw an improvement of 34% m/m, a common occurrence in the third month of the quarter. When combining the three distribution channels—retail, wholesale, and auctions—the total market same-dealer sales volume increased by 12% m/m in September.
The *Classes 3-8 Used Truck* report from ACT Research provides valuable insights into the used truck market, offering data on average selling prices, mileage, and age based on a comprehensive sample of industry data. Additionally, the report includes the average selling price for the top-selling Class 8 models from each of the major truck Original Equipment Manufacturers (OEMs), including Freightliner (Daimler), Kenworth and Peterbilt (Paccar), International (Navistar), and Volvo and Mack (Volvo). This report serves as an essential resource for stakeholders across the industry, particularly commercial vehicle dealers, who rely on it to better understand market dynamics and anticipate near-term performance shifts.
ACT Research is widely regarded as the premier source of data and analysis for the commercial vehicle, truck, trailer, and bus industries in North America and China. Their reports are utilized by major manufacturers, suppliers, banks, and investment firms, making them a critical component of strategic planning within the industry. ACT Research contributes to the *Blue Chip Economic Indicators* and is part of the *Wall Street Journal Economic Forecast Panel*. Several of ACT's executives have been honored with prestigious awards, such as election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and recognition for the most accurate economic forecast over a four-year period by *Blue Chip Economic Indicators*. Key staff members have also been acknowledged for their forecasting accuracy, receiving honors like the Chicago Federal Reserve Automotive Outlook Symposium’s Best Overall Forecast, *Wall Street Journal’s Top Economic Outlook*, and inclusion among *USA Today’s Top 10 Economic Forecasters*. For more information, visit [www.actresearch.net](http://www.actresearch.net).
In conclusion, while September marked a temporary setback in the used Class 8 truck market, the broader trends suggest stabilization ahead, with a return to growth expected in the coming years. ACT Research continues to provide invaluable insights into the ever-evolving landscape of the commercial vehicle sector.