Used Class 8 truck sales climb 10.2% in June amid tight inventory and rising freight rates

Used Class 8 truck sales surged 10.2% year over year in June, reaching 24,900 units compared to 22,600 a year earlier, according to ACT Research. The market also saw a 4.6% sequential increase from May’s 23,800 units. Analysts attribute the strength to improving freight conditions, higher spot rates, and persistently constrained equipment inventories. The average retail sales price for a used Class 8 truck rose 1.5% to $61,751 from $60,814 a year ago and 2% sequentially from $60,513. Average mileage increased 2.2% to 410,000 miles from 401,000 a year ago and 3.3% from 397,000 miles in May. ACT Vice President Steve Tam noted that June’s sales increase exceeded the typical 2% seasonal bump, describing it as directionally consistent but stronger than expected. He added that June is historically the fifth-weakest sales month of the year, running 3% below average. Despite the retail market’s gains, auction and wholesale volumes softened in June, with auction volumes down 22% month to month and wholesale dealer activity declining 4.8%. Combined, same-dealer sales volumes fell 5.1% sequentially. J.D. Power’s monthly report echoed ACT’s findings, highlighting healthy pricing across channels. Retail sale prices rose 1.3% from May but dropped 3.7% year over year, while wholesale prices dipped 0.1% sequentially but jumped 10.1% from last year. Auction prices surged 6.3% from May and 14.7% from 2025. Chris Visser, director of specialty vehicles at J.D. Power, pointed to two key factors driving the market: spot rates have now exceeded contract rates for the first time in four years, and Class 8 manufacturers have been rehiring factory workers, reversing layoffs from the previous year. Visser noted that while fuel costs drove spot pricing earlier this year, the shortage of available carriers has since become the dominant factor. Model-year 2026 orders are at their highest level in five years, but production and delivery have lagged, though the addition of second shifts at many plants is helping turn the corner. Visser expects fleets to expand capacity, which could lead to a higher volume of trades entering the used market as new trucks are deployed. RB Global’s Rob Slavin, senior valuation analyst, emphasized that inventory remains tight as fleet operators hold onto equipment longer than usual, primarily due to the rebound in freight spot rates over the past seven months. RB Global data shows spot rates now average more than $3 per mile, up from below $2 per mile between 2023 and 2025. The company also reported an increase in the values of tractors, trailers, and medium-duty equipment in the second quarter compared to the first. Slavin noted that equipment values have followed freight rates upward, though he does not anticipate a return to the extreme price spikes seen in 2021–2022. He added that regional price equalization is another key trend, with previously premium-priced regions like the West and Southwest now seeing consistent pricing nationwide. RB Global data shows that the value for a 2020 Freightliner Cascadia sold on the sleeper market increased in the second quarter, with units in the 400,000- to 800,000-mile range rising an average of $7,500 per unit sequentially. Models in the 400,000- to 550,000-mile range saw jumps between $7,700 and $11,600. Day cabs also experienced a surge, with 8-year-old models becoming the highest-volume traders, particularly the 2019 Freightliners equipped with DD13 engines. Slavin concluded that while new Class 8 truck sales are expected to gain momentum, cumulative supply shortfalls from previous years continue to keep the secondary market supply low. He expects these inventory constraints to support solid equipment pricing through the remainder of the year.