Preliminary used Class 8 retail volumes (same dealer sales) increased 24 percent month-over-month and were just 2 percent higher compared to January of 2022, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.

Compared to December 2022:

• Average retail price declined 5 percent.
• Miles increased 9 percent.
• Age declined 2 percent.

Compared to January of 2022:

• Average retail price declined 14 percent.
• Miles increased 4 percent.
• Age was flat.

According to Steve Tam, Vice President at ACT Research, “Most notably, Class 8 same dealer used truck retail sales volume benefited, jumping 24 percent month over month. The gain was facilitated by a slew of new truck sales at the end of 2022.” He continued, “January used retail sales were even able to eke out a gain relative to January 2022. Though, we view January’s performance as a bit of an outlier and still expect sales to be lower in 2023.”

Tam concluded, “The preliminary average retail prices of a used Class 8 truck sold in January dropped 5 percent month over month, to just over $75,600. That is 14 percent lower than January 2022. Comparisons are expected to become increasingly negative.”