The average retail sales price of Class 8 used vehicles sold in September increased 3 percent month-over-month to $42,100 according to ACT Research Co.

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In the latest release of its State of the Industry: U.S. Classes 3-8 Used Trucks report, ACT also reported that the number of units sold declined by 5 percent month-over-month as dealers reported tightening supply of late-model equipment.

"Having fewer than necessary trucks of the right specifications is exacerbating the shortage of equipment and helping to drive up prices," said Steve Tam, vice president-commercial vehicle sector with ACT. "Despite the lower number of transactions compared to August, all three used truck sales channels (auction, retail and wholesale) are well ahead of last year's pace on a year-to-date basis. The used dealer industry remains cautiously optimistic about future prospects as freight, trucker profitability and new truck demand are improving."

ACT Used Truck database participants report approximately 2,500 transactions per month. The company is working with used vehicle market participants to push the number of reported transactions significantly higher. ACT estimates that approximately 10 percent of used Class 8 transactions are included in the database.