used truck prices

New Class 8 truck deliveries fall for 4 consecutive months  

The strength in new Class 8 orders belies a four-month slide in deliveries while used truck prices continue to fall, albeit more slowly as 2023 comes to a close.

Through the first 11 months of the year, the industry has delivered 242,881 new Class 8 trucks, 7.8% more than the same period in 2022, according to Ward’s Intelligence. But the year-over-year lead has shrunk each month since February when sales were 35% ahead compared with 2022.

This contrasts with ACT Research, which reported net...

https://www.freightwaves.com/news/new-class-8-truck-deliveries-fall-for-4-consecutive-months

Is the worst over for falling used truck prices?

Used truck prices fell about 4% a month in the first 10 months of the year. But the rapid rate of depreciation might be coming to an end.

“The past three months’ less-than-expected declines present mounting evidence of pricing stability,” said Steve Tam, ACT Research vice president. “We expect lower prices through the end of 2023, with a return to month-over-month growth toward the end of 2024.”

J.D. Power Valuation Services found month-over-month auction prices for the typical Class 8 sleeper...

https://www.freightwaves.com/news/is-the-worst-over-for-falling-used-truck-prices

Class 8 truck orders hit year’s peak in September

With 2024 orderboards open, fleets placed the highest number of Class 8 bookings this year in September. But they know they can pull the plug if necessary.

Preliminary Class 8 net orders were 36,800 units, up 67% over August, ACT Research reported. Rival analytics firm FTR Transportation Intelligence pegged orders at 31,200. Both numbers fell far short of the record 53,700 orders in September 2022.

With depressed spot rates and a cooling consumer economy, some of the orders could be a hedge...

https://www.freightwaves.com/news/class-8-truck-orders-hit-years-peak-in-september

Loaded and Rolling: Yellow stares down the precipice

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

Falling used truck prices push largest dealership network to sidelines

Falling prices for used trucks might be good news for those in the market for older iron. But they are having an opposite effect on Rush Enterprises, the nation’s largest new and used truck dealership network.

“Looking ahead, we expect used truck values to continue to decline, and we plan to maintain our low inventory levels until conditions begin to normalize,” Rush Enterprises CEO Willam “Rusty” Rush said Thursday on the company’s earnings’ conference call.

Rush had strong financial results in...

https://www.freightwaves.com/news/falling-prices-of-used-trucks-push-largest-dealership-network-to-sidelines

Lower used truck prices will hit Ryder profitability in ’23

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After a blowout 2022, Ryder System is projecting more moderate profitability in 2023, with a decline...

Loaded and Rolling: Interview with Variant’s Josh Smith; Bank of America transportation outlook

Trucking and technology at scale: A look at Variant with Josh Smith

(Source: FreightWaves)

On Tuesday, Josh Smith, vice president at Variant and over-the-road operations at U.S. Xpress, spoke to FreightWaves about the Variant program and how technology and operations are vital to success in trucking.

During the interview, Smith highlighted the evolution of the Variant brand and how the organizational structure seeks to make life better for drivers on the road. Smith noted the Variant model is...

https://www.freightwaves.com/news/loaded-and-rolling-interview-with-variants-josh-smith-bank-of-america-transportation-outlook

Why the used trucks pricing bubble finally burst

After leaking for several months, the air is nearly evacuated from the used truck pricing bubble as increased production of new trucks allows fleets to finally trade their aging iron.

Prices at auction are about 25% higher than the last pre-pandemic peak, according to J.D. Power Valuation Services. At the peak of the pricing bubble, used trucks sold for as much as149% more than they did before COVID hit in March 2020.

The depreciation grew heavier in December. A lot of auctions and sellers...

https://www.freightwaves.com/news/why-the-used-trucks-pricing-bubble-finally-burst

Loaded and Rolling: Scope 3 emissions; World Economic Forum vs. empty miles

Podcast interview: The scope of Scope 3
(Source: FreightWaves)

On Tuesday, FreightWaves interviewed Josh Bouk, president of Trax Technologies, about the recent Securities and Exchange Commission rule-making recommendation back in March 2022 regarding scope 3 emissions. Scope 3 is a part of a larger greenhouse gas emissions overhaul by the SEC, the intent being for companies to disclose their impact on the environment.

Climate-related and emissions disclosures can cause more stress for trucking...

https://www.freightwaves.com/news/loaded-and-rolling-scope-3-emissions-world-economic-forum-vs-empty-miles

‘Once-in-a-lifetime pricing boom’ in used trucks reverses course

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Used truck prices reversed year-over-year gains in November for the first time since 2020,...

https://www.freightwaves.com/news/once-in-a-lifetime-pricing-boom-in-used-trucks-reverses-course

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