Report: Class 8 Used Truck Prices 75% Higher Than 2021

ACT Research filed a report today saying retail sales for Class 8 used trucks was down 24% in April, while prices were 75% higher than last year.

ACT Research filed a report today saying retail sales for Class 8 trucks was down 24% in April.
ACT Research filed a report today saying retail sales for Class 8 trucks was down 24% in April.
©Tomasz Zajda –

ACT Research released a new report today about Class 8 used truck sales for April, saying month-over-month sales volume was down 24%. Year over year, sales volumes were down 40%. ACT experts expect that trend to continue, potentially through to August. 

The report, titled U.S. Classes 3-8 Used Trucks, also noted that average prices were down 1% compared to March, but 75% more expensive than in April of 2021. Average miles and age were up slightly from March, at +3% and +4%, respectively, with miles up 6% year over year and age 7% higher than last April.

The report from ACT provides data on the average selling price, miles, and age based on a sample of industry data. The report  also shows the average selling price for Class 8 models for each of the major truck OEMs; Freightliner (Daimler), Kenworth and Peterbilt (Paccar), International (Navistar) and Volvo and Mack (Volvo).

“Same dealer retail sales of used Class 8 trucks took a bit of a tumble in April. While normal seasonality predicted an 8% decline, lumpy new truck sales and the lack of used truck inventory are the more likely culprits in April’s slowing,” said Steve Tam, vice president at ACT Research. “Waning April new truck sales portend more weakness ahead in the secondary market, though March’s uptick has yet to make its way through the inventory maze. The April deficit marks the 10th straight month of shrinking year-over-year sales, which have been hamstrung by the curtailed flow of units into used truck inventory. A peek ahead at near-term expectations suggests sales are usually below average in May, then return to normal in June and July before picking up in August.”

Tam also discussed the impact of supply chain disruptions on the truck market. 

“While the OEMs aspire to higher new truck production and sales, which would presumably benefit the used truck market, the relief they seek on the supply-chain front has proven elusive.” He concluded by discussing demand, saying, “Inflation persists in taking its toll on consumer confidence and spending. While the spot freight markets have borne the brunt of the initial slowing, contract markets are not expected to escape unscathed. Collectively, lower demand for trucks at the same time capacity additions are still occurring are having the predicted and understandable effect of driving prices for both freight hauling and used trucks lower.”