FreightWaves’ Thomas Wasson sits down with Steve Oliver, Vice President of Sales & Marketing at Taylor & Martin Auctioneers, to talk about trends in the used equipment market and what they mean for the freight market at large.
The trucking and heavy equipment industries have undergone a dramatic transformation since the pandemic. Fleet operators have adapted their business models, and buyer behaviors have shifted fundamentally. The demand for speed and efficiency has never been higher. Yet somehow, the marketplaces where trucks, trailers, and heavy-duty equipment change hands are still stuck in the past.
Unprecedented high prices for used trucks a year ago have plummeted as new truck production moved past supply shortages.
Michigan trucking company auctioning equipment after 50 years
After months of downward moves, used truck prices ended the year closer to pre-pandemic levels than anytime since COVID hit.
When the floor on auction prices of used trucks is reached late this year, they will still be 20% higher than pre-COVID prices.
Used trucks commanded lower prices at auction and retail in July as the overheated equipment market continued to cool.
Experts expected a closing of the gap between record-high auction and retail used truck prices. Now both are in retreat.
Auction prices for used trucks are dropping as more equipment shows up amid cooling spot freight demand.
Freightliner powertrain parts thefts threaten the livelihood of drivers stranded with little hope of getting a replacement part.
Sky-high used Class 8 truck prices are not falling with lower freight rates as an undersupply of equipment continues to alter buyer behavior.
The pandemic and the supply chain crisis was a one-two punch for United Road Services, the car hauler that moves 4 million vehicles a year.
Sought-after used trucks nearly double in year-over-year price, according to J.D. Power Valuation Services.
Skyrocketing prices for late-model used equipment bring older, less attractive used trucks to auctions
The growing backlog of new truck orders has supercharged pricing for newer used models at auctions, with retail traffic also high.
A platform was rolled out on Tuesday that automates the shipping process for auction houses and bidders of high end items
