According to preliminary data from ACT Research, used Class 8 truck retail sales experienced a substantial surge to close out 2024, rising 23% compared to the previous month. This impressive performance far exceeded the typical seasonal trend, which generally anticipates an 8% month-over-month increase.
Steve Tam, Vice President at ACT Research, emphasized that the used truck market notably outperformed expectations. He also highlighted key market metrics, revealing that the average price of used trucks in December 2024 was down 4% compared to December 2023. Meanwhile, the average mileage increased by 3%, and the average age remained unchanged year over year.
Auction activity saw a significant boost, climbing 47% from November, while wholesale transactions grew by 3.7%. Overall, used truck sales in December showed a 23% month-over-month increase and were also up 24% compared to December 2023.
Tam suggested that the surge could be attributed to buyers aiming to time their purchases strategically before potential price increases in the near future.
In terms of pricing trends, December’s used trucks were sold at an average price 4% higher than in November but 4% lower compared to the same month in 2023.
Spot Market Trends – Week of January 13, 2025
Early 2025 spot market data indicates stable rate trends following a temporary holiday-driven spike. A recent update from FTR Transportation Intelligence and the Truckstop load board system reported substantial spot load volume growth due to comparisons with the holiday-shortened prior week. However, year-over-year comparisons showed stronger-than-usual results for early January, a period when rates typically decline.
Analysts noted that spot rates remained relatively stable, with modest increases across most segments for the week ending January 10. Dry van spot rates reached their highest level in two years following the holiday surge, while refrigerated rates were at their highest in over a year. Flatbed rates, which had hit their lowest point since July 2020, appeared to be recovering.
Total load activity rose significantly, reaching its highest point since March, with volume nearly 38% higher than the same week in 2024, though it remained 21% below the five-year average for the period. The Market Demand Index, reflecting the ratio of load postings to truck postings, also surged to its highest level since June 2022, indicating stronger market activity.
