Sales of Used Class 8 Trucks Drop 8 Percent
Sales of used Class 8 trucks dipped notably in February, continuing a trend of consistent market inconsistency, according to a new report.
ACT Research is reporting that sales of used Class 8s dropped 8 percent from January’s numbers. The average mileage of used Class 8s remained unchanged month-over-month, even as the average age and price of one dropped 2 percent and 4 percent, respectively.
ACT Vice President Steve Tam noted that “sales typically see a moderate decrease” in February of around 4 percent, but characterized this drop as “a bit steeper than expected.”
“It is no secret that ‘normal’ has been anything but in this cycle, so given the relatively small variance, it is tough to get too excited,” he added.
Compared to sales from February 2022, prices were notably lower, down 23 percent. Year-over-year, the average vehicle age was lower, while the mileage saw an increase.
The information comes from the company’s State of the Industry report, released March 29.