February Used Truck Sales Surge Past Expectations Despite Sequential Dip

Key Details Used Class 8 truck sales in February topped seasonal forecasts with 22,700 units sold, marking a 5.6% year-over-year increase from 21,500 units. However, sales dropped 8.8% from January's 24,900 units. The average retail price climbed to $55,215, up 2.6% annually, while average mileage fell to 409,000 miles. Market Dynamics Auction volumes spiked 127% month-over-month as the market recovered from typical first-quarter slumps. Wholesale dealer activity jumped 22% sequentially. ACT Research noted that February typically ranks as the sixth-weakest sales month, making these gains particularly noteworthy. Pricing Pressures J.D. Power reported softening prices across all channels following January's strong start. Large auction volumes contributed to lower February pricing, a normal pattern in the market. Price variations remain wide between specific truck makes and engine specifications within the same model year. Looking Forward Model year 2027 orders are tracking as the strongest since 2022 amid positive freight rates. However, geopolitical tensions with Iran and resulting oil price spikes present uncertainty. Diesel price increases particularly threaten smaller carriers' profitability, while larger fleets weather the volatility better.