Used Class 8 Truck Prices Spiking, Researchers Expect Gradual Decline Soon

Prices for used Class 8 trucks continued to spike in February, although researchers think they may be nearing their apex.

The average price for a used Class 8 truck rose 7 percent in February, according to an ACT Research report on same-dealer sales issued March 28. The year-over-year price increase — 83 percent compared to February 2021 — demonstrates just how fast used truck prices have risen in the past 12 months.

However, the report noted that this trend is unlikely to continue much longer now that the freight market is starting to cool down. “Through mid-March, rising fuel prices have masked a rapid month-over-month decline in spot freight rates,” explained ACT Vice President Steve Tam. “We contend that this signals an impending slowdown in demand for used trucks, with prices to follow accordingly.”

He said used Class 8 prices could remain “better than expected” for another month or two, but will eventually fall, with “some dealers already reporting prices softening around the edges.”