Used Class 8 Sales Nosedive in September

The market for used Class 8 trucks wasn’t great in September, with units sold down 14 percent from August, according to one report. 

Those who did purchase a vehicle paid 1 percent less than they would’ve in August, according to an ACT Research analysis, with the trucks having an average of 3 percent fewer miles. 

Month-over-month, the average vehicle age stayed exactly the same. 

When compared to September 2022, the average price plummeted by 25 percent, landing at $63,900, according to the report. All other metrics fell in that span, as well: units moved by 4 percent, average miles by 8 percent and average age by 1 percent. 

The analysis also noted that auction sales skyrocketed by 135 percent from August to September. Steve Tam, ACT vice president, stated that although there’s normally a surge at the end of a quarter, “it is reasonable to assume that any equipment owners who were considering selling their assets hurried to do so in September, ahead of the anticipated disposal of Yellow’s trucks and trailers.”