J.D. Power Valuation Services

Used truck prices continue to fly higher as demand overwhelms supply of pre-owned models.

Higher prices for used trucks are expected to last into 2022 and when they fall, it will be from a lofty place.

Skyrocketing prices for late-model used equipment bring older, less attractive used trucks to auctions

A double whammy of few new trucks and fleets wanting upgraded equipment in a booming freight market is driving prices to a post-Great Recession peak.

Slowdowns in deliveries of new trucks are driving prices of newer used trucks up in the double digits both at dealerships and in auctions.

The growing backlog of new truck orders has supercharged pricing for newer used models at auctions, with retail traffic also high.

New Class 8 truck orders are piling up, leading fleets to turn to used equipment to add capacity in a consumer-driven freight market.

Prices for used Class 8 tractors should maintain the momentum from the last half of 2020, but the nation’s unemployment rate could affect that, according to J.D. Power Valuation Services.

The trend of improving used truck sales stalled in October. But year-over-year price gains are holding up. Added capacity could be a problem if pandemic shutdowns slow freight demand.

All stakeholders are experiencing used truck momentum despite and because of the lingering pandemic.

Pulled along by improving orders for new Class 8 trucks, demand for late-model heavy-duty used trucks continues to swell.

Prices are firming and demand is rising for used trucks after more than a year of doldrums mirroring a slowdown in new truck orders.

The recovery in freight pricing led to a five-year high in certain used truck auction volumes in June as crowds of identical used sleeper trucks pushed some prices lower.

It’s a bargain hunter’s market for used trucks, especially sleeper cabs, as prices come off the floor but demand for one-owner equipment remained slack in May.

April’s coronavirus impact intensified pricing pressure in an already depressed used truck market where most cash-conserving buyers held back on purchases.

With benchmark prices down 26% year over year, analysts pin hopes for a used truck sales recovery to the restart of the economy. March was a tale of contrasts with decent sales early in the month that plummeted later as too many trucks sought too few loads.

Before the coronavirus became a pandemic, used truck sales posted their best performance in two years as low prices and seasonality combined to boost an otherwise slow market for older equipment.

Fleet failures and bankruptcies contributed to a 14% decline in prices in 2019.

It is sort of a hostage situation. New truck orders are stalled until used truck prices go higher.

The number of used Class 8 trucks for sale continues to grow as new equipment deliveries drain the backlog created during a 2018 order binge.