Used Class 8 truck prices were up in December

January 28, 2022

Land Line Staff

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Prices for used Class 8 trucks for December were 66% higher than in December 2020, says data analytic firm ACT Research.

Average prices were 2% higher in December compared to November and 40% higher year to date, according to a news release.

While prices were higher, the number of trucks sold was lower, ACT reports, but there was recent up tick.

Retail volumes of used Class 8 trucks (same dealer sales) were 2% lower in December compared to November. Comparing 2021 o 2020, volumes were down 28%. However, year-to-date prices were up 7%.

ACT Research’s State of the Industry: U.S. Classes 3-8 Used Trucks report has data on the average selling price, miles, and age based on a sample of industry data. The report also details the average selling price for top-selling Class 8 models for each of the major truck original equipment manufacturers.

“Used Class 8 same dealer retail sales volumes finished 2021 on a low note, dropping below the 4,000-unit mark for the first time in 20 months,” Steve Tam, ACT vice president, said in the news release. “Positively, retail dealers were able to sell 7% more units in 2021 vs. 2020, putting COVID farther into the review mirror.”

Auction sales for used Class 8 trucks were nearly doubled from November to December, ACT reports, but wholesale activity was lower. There also were lower volumes in the auction and wholesale markets in December compared to December 2020.

“Cumulatively for the year, auction and wholesale activity was also smaller in 2021 relative to 2020, with auction sales coming in 36% lower and wholesale deals lagging by 31%,” Tam said in the news release.

Tam forecasts continued freight growth but at a slower rate than in 2021. ACT expects new Class 8 truck sales to increase and used Class 8 trucks sales will follow suit. That will likely cause truck prices to decrease. Used truck prices will likely remain higher year over year through most of first half of 2022, depending on the rate at which freight hauling capacity rebalances, he predicted.

Columbus, Ind.-based ACT Research was founded in 1986. Its analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies.

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