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Used Class 8 truck sales for March increased on a year-over-year basis, but prices declined amid shifting market conditions, ACT Research reported.

Sales volume increased 4.2% to 22,600 units from 21,700 reported in the prior-year period, and rose 5.1% sequentially from the 21,500 units reported in February. The average retail sale price declined 6% year over year to $56,525 from $60,119, but a 5.6% sequential increase in prices was the largest reported since March 2022. Average mileage increased 1.2% to 421,000 from 416,000 a year ago, but slipped 1.6% from the 428,000 reported the previous month.

ACT Research Vice President Steve Tam said shifts in the new truck market are having a downstream effect on the pre-owned marketplace.

“Slowing new truck sales are stemming the flow of trades into used truck inventory,” he said. “Lack of new trucks may also be resulting in traditional new truck buyers looking to the secondary market, to substitute affordable, available used trucks for scarce, expensive new ones.”

[April State of the Industry: U.S. Classes 3-8 Used Trucks Update] - Used Truck Prices Rise in March

Read more from the update here: — ACT Research (@actresearch)

Trey Golden, vice president of used truck sales at Rush Enterprises, said the month’s rise in sales but dip in prices was in line with historical trends.

“We were really happy with March,” Golden said. “It was what we considered to be a good month. Knowing the seasonality in used trucks, we had a month that we would’ve expected. We did have a lot of volume, and we did have a little bit of pricing pressure. April is going to be much the same, another good month.”

Golden noted, however, that the used truck market is being pulled in different directions because of the tariffs that President Donald Trump is placing on imports. While some people believe that a tariff-fueled rise in new truck prices will impact used trucks, others don’t expect prices for new and used trucks will be intertwined in the short term. Golden, for his part, says the freight market can serve as an indicator.

“Used truck demand is basically a barometer on the spot rate market at the time,” he said. “There have been a lot of freight slowdowns going on now. March was still pretty immune from any kind of tariff-related freight disruptions. If anything, there was more freight as people were trying to front-load ahead of tariffs. As you move forward, that’s what you’re going to have to watch.”

Golden doesn’t expect a sustained increase in used truck prices until there is a spike in freight demand.

“We are selling a lot of used trucks to what would traditionally be new truck buyers, and that is because of the uncertainty in the market — the uncertainty on new truck pricing with the tariffs,” Golden said.

J.D. Power reported an impressive boost in sales volume on dealer lots and at auctions in its monthly market report, noting that pricing was encouragingly stable and trending upward. Auction prices for 4- to 6-year-old trucks averaged 5.3% more than February, and 29.3% higher than March 2024.

“March’s auction results were promising, and early April results look to continue that positive trend,” the report stated. “We are still in a pull-ahead freight environment, as industries import goods and products in advance of full implementation of tariffs. Freight spot rates have not increased, suggesting any short-term increase in demand has been absorbed by existing capacity. As such, increased selling prices for used trucks could largely be attributed to one-for-one trades by individuals and small fleets confident enough in the current environment to trade in their old truck for a newer one, with an assist from tighter supply.”

J.D. Power noted that retail used sleeper pricing in March increased. The average sleeper tractor retailed during the month was 62 months old, had 433,436 miles and brought in $66,647. Compared with February, pricing jumped 6.1% and average mileage dipped slightly.