used Class 8 trucks Archives - Maritime Shipping News

Loaded and Rolling: Yellow stares down the precipice

29 June 2023

Yellow stares down the precipice

(Photo: Jim Allen/FreightWaves)

Negotiations between the Teamsters union and Yellow Corp. remain ongoing, with the fate of the nation’s third-largest LTL carrier hanging in the balance. Yellow is facing stiff resistance from the Teamsters over proposed operational changes that would consolidate operations between purchased regional carriers New Penn and Holland and integrate them into Yellow’s nationwide network.

Regarding the impact to the union, FreightWaves’ T...

https://www.freightwaves.com/news/loaded-and-rolling-yellow-stares-down-the-precipice

Used truck prices fall further in August with ‘soft floor’ in sight

27 September 2022

Normalcy is returning to auction prices of used trucks, but the new normal for a rig with 400,000 to 550,000 miles is going to cost buyers about 20% more than before the COVID-19 pandemic.

That’s the forecast from J.D. Power Valuation Services, which tracks pre-owned truck prices in auctions and at retail dealerships.

“We expect auction pricing to hit a ‘soft floor’ before the end of the year, landing about 20% above the most recent pre-pandemic peak of early 2019,” said Chris Visser, who writes...

https://www.freightwaves.com/news/used-truck-prices-fall-further-in-august-with-soft-floor-in-sight

Freight pullback isn’t making used Class 8 trucks any cheaper

19 April 2022

The recent pullback in spot freight rates isn’t affecting the sky-high prices of used Class 8 trucks.

Some higher-mileage used models sold for less in March, but the undersupply of equipment shows no signs of easing.

“Any downward movement in the tender rejection rate since February hasn’t correlated to a change in used truck pricing,” Chris Visser, commercial vehicles senior analyst and product manager at J.D. Power Valuation Services, told FreightWaves.

Changes to market conditions usually...

https://www.freightwaves.com/news/freight-pullback-isnt-making-used-class-8-trucks-any-cheaper

Higher and higher: Used truck price inflation shows no signs of abating

23 November 2021

The sky’s the limit. Now find the sky.

That is the ongoing story of used truck prices at both auction and retail for the first 10 months of the year. J.D. Power Valuation Services pegs the year-over-year increase in auction prices at 89.9% — with the gavel dropping on month-over-month increases of 7%.

“The sense of urgency is as strong as ever in the auction lanes, with buyers continuing to pay record pricing for desirable trucks,” Power said in its monthly Guidelines newsletter covering October.

P...

https://www.freightwaves.com/news/higher-and-higher-used-truck-price-inflation-shows-no-signs-of-abating

Up, up and away: Used truck prices keep soaring to records

20 September 2021

Used truck prices continued their skyward trajectory in August, setting records as demand continued to overwhelm supply, a condition expected to last into next year.

The monthslong pricing rocket resumed in August after briefly slowing in July. The trickle-down effect of new truck production stalled by a lack of critical microchips and other component shortages is choking the supply of low-mileage used trucks.

Fleets that typically trade equipment after four or five years are holding onto their...

https://www.freightwaves.com/news/up-up-and-away-used-truck-prices-keep-soaring-to-records

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

21 July 2021

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

Used truck sales recovery firming up for all players

22 October 2020

Used truck pricing pressure is easing as stakeholders from manufacturers to dealers report growing sales momentum despite the lingering pandemic — and because of it.

As the tail of the dog in trucking, used truck sales fall when new truck sales slow. So when major manufacturers shuttered assembly plants for six weeks in March and April, used equipment all but froze. Already low prices dropped even further. Loose capacity heading into the pandemic tightened.

However, in recent months as freight...

https://www.freightwaves.com/dealership-network-rush-enterprises-sees-profit-margins-double-from-q2-to-q3