Used Class 8 truck sales lose ground in May

ACT said the average retail sales price rose 5.1% to $59,723 from $56,813 a year earlier, but was down 1% sequentially from $60,347. (Aziz Shamuratov /Getty Images)

Used Class 8 truck sales and prices lost some ground in the short term but remained above prior-year results for May.

ACT Research said sales rose 5.3% to 23,800 units from 22,600 a year earlier, but slipped 4.4% sequentially from 24,900 units. The report described mixed auction and wholesale markets: Auction volume surged as the segment recovered from a slower start to the quarter, while wholesale dealer activity contracted during the same period.

“May is the third-weakest sales month of the year,” said Steve Tam, vice president at ACT Research. “While some carriers are leaving the business, there appears to be a steady stream of those willing to throw their hats into the ring. These willing participants account for the increase in used truck sales volumes the market is currently enjoying.”

ACT Research also said the average retail sales price rose 5.1% to $59,723 from $56,813 a year earlier, but was down 1% sequentially from $60,347. Average mileage edged down 0.2% to 400,000 from 401,000 a year ago, and 0.7% from 403,000 miles in April.

“In the month of May, we were steady here,” said Charles Smith, regional business development and marketing manager at Mission Financial Services. “We had a better month in April. We’d seen prices that were good, and we did a lot of financing in the month of April. May comes around, and it’s kind of slacked off a little bit.”

The softer May result meant fewer financing opportunities during the month, Smith said. He suspects global market uncertainty may be partly to blame, making it more difficult to predict expenses such as freight prices and fuel costs. He also has been tracking a slight increase in used truck prices based on what he has been hearing from dealerships, vendors and auctions across the country.

“There are not a lot of new trucks going out, so that’s increasing the price of used,” Smith said. “Once the new sales start to pick up some, you’ll see used prices go back down. Of course, a lot of my franchise dealerships on the new side are not taking in trades. So, with that, it kind of increases the value of a used truck right now, especially low-mileage used trucks.”

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J.D. Power, in a separate report, said auction volume increased notably for the second month in a row. Dealership retail sales, however, pulled back again, suggesting the stronger demand environment has limitations. Retail sale prices decreased 1.3% from the prior month but increased 2.9% from last year. Wholesale prices increased 6.7% sequentially but were down 0.1% from last year. Auction prices declined 3.2% from last month and 4.3% from 2025.

“A de-escalation of the conflict in the Middle East looks possible in the near term,” Chris Visser, director of specialty vehicles at J.D. Power, wrote in the report. “Any resulting decline in refined fuel prices would likely put downward pressure on fuel surcharges and, in turn, spot rates.”

Visser said lower rates could create a modest headwind for used truck demand and values, given that much of the recent increase in spot rates has been driven by fuel surcharges. He also is monitoring a recent decline in retail sales per dealership.

“It is logical that a spike in late-model used truck purchases coincided with a steep increase in spot rates,” Visser said. “The decline in volume over the past two months suggests trade-in activity and drivers entering or re-entering the industry are factors with a ceiling.”