April saw a turnaround in the trend of the prior two months in the used Class 8 truck market as volumes sank and pricing rose, according to State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research Co.
Used truck prices are staying high thanks to sharp increases in the cost of new trucks. Photo by Jim Park
"The average retail selling prices for a used Class 8 truck was $51,217 in April, up 8% month over month and 16% year over year," says Steve Tam, vice president-commercial vehicle sector with ACT. "The appreciation in prices supports our expectations for the longer term. We believe year-over-year pricing growth will continue, but at a slower pace, as more trade-ins become available."
The report from ACT provides data on the average used price for the top-selling Class 8 model for each of the major truck OEM's - Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo). For more information, go to www.actresearch.net