used truck prices

Used truck prices fall as OEM supply chain clears

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-5’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-5’); });

The trend is clear. Used truck prices continue to fall across almost all years and models as new...

https://www.freightwaves.com/news/used-truck-prices-fall-as-oem-supply-chain-clears

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

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

Used truck prices dip in July except for lower-mileage models

Overview of used trucks at auction site

Used truck prices are falling at auctions and dealerships, with one exception — newer equipment with fewer than 400,000 miles on the odometer.

After months of stratospheric prices, the air is escaping the balloon. Higher production of new trucks is prompting trade-ins that all but dried up during pandemic-related supply disruptions.

Availability of new trucks is still tight. But July sales of new Class 8 models were higher for all but one truck maker, according to Wards Intelligence. July sales...

https://www.freightwaves.com/news/used-truck-prices-dip-in-july-except-for-lower-mileage-models

Hammer to fall: Used truck auction prices dropping quickly

three used trucks at a Ritchie Bros. auction in Houston

Auction prices are falling almost as quickly as they rose over the last year. That is leaving owner-operators stuck with overpriced equipment they thought they could pay for in a hot spot freight market that is cooling off. 

“The market is primarily absorbing trucks from fleets no longer retaining all of their older iron as new trucks trickle in and, to an extent, from owner-operators leaving the industry or going to work for a fleet,” said Chris Visser, senior analyst and commercial vehicles...

https://www.freightwaves.com/news/used-truck-auction-prices-falling-fast

Used truck auction prices slipping but still historically high

Aerial view of multi-colored used trucks in an auction parking lot.

Used truck auction prices dipped in April as freight demand softened, but the doubling in cost of acquiring low-mileage pre-owned equipment over the last year will take months to return to anything resembling normal.

And even with the peak crested, prices will be much higher than the historic gap between new and used Class 8 tractors, according to J.D. Power Valuation Services.

“Pricing is still extremely high by historical standards — particularly for the newest trucks available — but [auction]...

https://www.freightwaves.com/news/used-truck-prices-begin-to-slip

What will tame used truck prices? Apparently not even economic slowdown

Rising interest rates and the potential for a slowing economy so far are having no effect on runaway prices for used trucks.

“February data is the last we’ll have that does not reflect any effect of the Russia-Ukraine war,” Chris Visser, J.D. Power Valuation Services senior analyst, wrote in the company’s March Guidelines report. “Pricing in February continued to break records and, as of this writing in mid-March, there does not appear to be any war-effect yet.”

Nor would the first of an expected...

https://www.freightwaves.com/news/what-will-tame-used-truck-prices-apparently-not-even-economic-slowdown

February Class 8 truck orders: ‘You can’t always get what you want’

The story of Class 8 truck orders in February can be summed up in the classic Rolling Stones’ lyric: “You can’t always get what you want. But if you try sometime, you’ll find you get what you need” in the exorbitantly priced used market.

Manufacturers kept the lid on how many orders they would accept in February because they don’t know when the supply chain gridlock will ease enough to ensure a steady flow of parts. 

And the Russian invasion of Ukraine may worsen the availability of...

https://www.freightwaves.com/news/february-class-8-truck-orders-you-cant-always-get-what-you-want

Anatomy of a truck order: Sometimes you just turn the page

Month after month, industry analysts report new Class 8 preliminary and net truck orders, snapshots of an industry in which peaks and valleys come about every two years of an economic cycle.

Preliminary orders don’t take into account orders that a fleet, or a manufacturer, might cancel for any number of reasons. Net orders, which follow the first cut by about 15 days, lock down a better read on what happened. The two numbers directionally correlate. Cancellations are a barometer of how customers...

https://www.freightwaves.com/news/anatomy-of-a-truck-order-sometimes-you-just-turn-the-page

Doubling down: Auction prices for used tractors up 96.3% in 2021

Used truck prices, especially for newer models, continued their explosive growth in December, with auction prices finishing the year nearly double 2020.

Supply chain issues — led by a shortage of semiconductors — tight supply and unprecedented demand all contributed to the unrelenting inflation. 

“Pricing in calendar year 2021 was 96.3% higher than in 2020 and 89.2% higher than in 2019. Late-model trucks increased in value an average of 7.3% per month in 2021,” according to J.D. Power Valuation...

https://www.freightwaves.com/news/doubling-down-auction-prices-for-used-tractors-up-963-in-2021

Record-setting used truck prices no deterrent to spot rate-chasing buyers

Demand for low-mileage used trucks led desperate buyers to pay almost twice as much for used iron at November auctions as a year ago, reversing places with typically higher retail prices.

The phenomenon is being driven by the shortage of new trucks, whose production is hampered by an unrelenting supply chain crisis in which rotating component shortages are worsened by a lack of semiconductors critical to many truck functions.

With few deliveries of new trucks to replace current ones, fleets are...

https://www.freightwaves.com/news/record-setting-used-truck-prices-no-deterrent-to-spot-rate-chasing-buyers

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.