đŸ›» Surprise Surprise: Everything is Going as Expected

Well, maybe not "everything," but used trucks, auctions, and prices are pretty close.

February 12, 2025

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The Gist

Used trucks? đŸ”„ December sales jumped 23% as buyers rushed to lock in deals before year-end. Auctions? 📈 Best January in five years, but don’t expect the streak to last. Used car prices? 📉 Sliding back to normal after the holiday rush.

  • Class 8 truck sales surged thanks to tax benefits & timing games.

  • 604K+ auction units moved in January, but off-lease supply is shrinking.

  • Used car prices are cooling, following pre-pandemic trends.

We know, we know, you aren’t surprised. The market’s predictable if you know what to watch. And you do. 🚗💹December was a wild ride for used truck sales, January saw a five-year high in auction volumes, and now used car prices are acting like a teenager figuring out their life. So, what’s the takeaway? Let’s break it down.

Sources:

Why Did Used Truck Sales Go Full Throttle in December?

Because tax code, budgets, and maybe just a little bit of market FOMO.

  • Sales of Class 8 trucks jumped 23% month-over-month in December, outpacing typical seasonality, which expected an 8% rise. (ACT Research)

  • Auction activity spiked 47% from November while wholesale transactions ticked up 3.7%.

  • Used truck values rose 4% over November but were still 4% lower than December 2023.

  • "Buyers were trying to time their purchases ahead of impending value increases," said ACT Research’s Steve Tam. Or maybe they were just getting those last-minute Section 179 deductions in before the IRS came knocking.

January Auction Sales: Off to the Races

Used vehicle auctions just had their best January since 2020. Not a bad way to start the year.

  • 604,761 wholesale units moved, an 11% year-over-year increase. (NAAA)

  • Auction sales jumped 23% from December (big numbers, but typical for January).

  • 3-year-old vehicle sales saw a 20% spike. Off-lease volume might be shrinking, but for now, dealers are grabbing what they can.

So, is this the start of something big? Maybe. But NAAA’s Larry Dixon expects growth to cool as the year progresses. Blame dwindling off-lease volumes and winter weather for shaking things up.

Used Car Prices: Falling or Stabilizing? Yes.

Now that the year-end buying frenzy is over, used car prices are sliding back to reality.

  • Average used car price in February: $25,571 (down from the holiday highs). (Black Book)

  • Wholesale used car prices dropped 0.36% last week, following pre-pandemic seasonal patterns.

  • Used trucks and SUVs are seeing across-the-board price drops. No exceptions.

Chris Visser from J.D. Power noted that while used truck values remain stable, “that’s not the same as saying pricing is strong.” In other words, don't expect the floodgates to open, but if freight demand improves, we might see prices firm up by mid-2025.

ASOTU’s Final Thoughts

Let’s be real—none of this is shocking to anyone who actually works in the business. Used truck sales got a year-end boost (as they do), January auctions came in hot (as they do), and now we’re watching to see where prices settle. The economy might be on a rollercoaster, but dealers? Dealers are the ones reading the track.

  • If you stocked up on used trucks in December, you probably saw this one coming.

  • If you’re playing the auction game, stay sharp—early-year momentum doesn’t last forever.

  • If you’re watching used car pricing trends, keep an eye on inventory shifts. The current slide might not be a crash, but it’s definitely a correction.

Smart dealers always win because they move with the market, not against it. And right now, the market is doing its best impression of a jazz musician—improvising, shifting tempo, and keeping everyone on their toes. Keep reading, keep adjusting, and, as always, we’re right here with you.

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