AUCTIONS

Good stuff gone: Older used trucks show up in June auctions

As prices for newer used trucks keep accelerating, older used trucks in rougher shape began appearing in June auctions, commanding less money but filling a yawning gap in capacity.

Pricing for lower-mileage trucks remains sky-high, according to J.D. Power Valuation Services.

That has created an opening for less-desirable trucks to bring down the auction gavel. Power’s benchmark group of 4- to 6-year-old trucks brought 5.1% more money.

Compared to the first six months of 2020, prices are up 85.8%. 

J...

https://www.freightwaves.com/news/good-stuff-gone-older-used-trucks-show-up-in-june-auctions

Seller’s market for newer used trucks is hot, hot, hot!

Stratospheric prices for newer-model used trucks are becoming the norm as new truck orders fall deeper into a backlog worsened by a microchip shortage and other supply chain constraints.

“From a margin perspective in the first quarter, that was the highest used margin that I can ever remember,” said W.M. “Rusty” Rush, chairman, CEO and president of Rush Enterprises, the nation’s largest chain of commercial vehicle dealerships. “I expect going forward that used truck margins will still remain...

https://www.freightwaves.com/news/sellers-market-for-newer-used-trucks-is-hot-hot-hot

Concor scraps coastal shipping tender

To float new tender soon with revised terms

Container Corporation of India Ltd (Concor) has scrapped a tender to hire two container ships for 10 years to start coastal shipping business after the lowest bidder pulled out his quote before the Navratna company launched a reverse auction.

Reverse auction is a mechanism followed by state-run firms to gauge whether any of the qualified bidders are willing to offer a rate lower than the one discovered through the initial bidding process.

Mumbai-listed...

http://container-news.com/concor-scraps-coastal-shipping-tender/

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