Used Truck Market Is Expanding Beyond Anyone’s Imaginations

You are currently viewing Used Truck Market Is Expanding Beyond Anyone’s Imaginations
  • Post category:News

When you think of used trucks, you think of old jalopies that are rusting away, waiting to get compaction happening in the junkyard. And yet, something much more intricate occurs. In which case, there are used trucks that happen to be very much in good condition. You can’t forget about these additions to the greater Class-8 Market. Throughout the beginning of 2021, trucks at the auctions have been found going ahead by 80% of the same period from just last year. In which case, there’s been higher pricing within the six years occurring since J.D. Power has begun to track the progress. Truck prices have been rising upwards 23% year-over-year per auction sale. If the newfound unpredictability is the current trend, this could very well be the brand new normal for a little bit. Some experts, like Chris Visser makes not that certain used trucks are certainly receiving a lot more attention. “We expect late-model pricing in June to clearly surpass the highest months in post-Great Recession period.”

Used truck sales are peaking in popularity.

Usually, trucks are noticing mild to about moderate retail appreciation to be noticeable in the third quarter. In which case, economic factors are going to start affecting the used trucks in a way that changes the availability totally. This would then limit the price appreciation totally.

As for fleets, they are looking to solve their issues when it comes to strong freight rates and load availability as well. In which case, supply limitations are affecting OEMs’ chances of finishing off truck orders.

But when you think about it, new trucks also have a considerate price moving forward. In which case, they need the commodity of assembling a tractor out of steel, aluminum, or lumber. That’s for new trucks however. And one can’t be so sure how this will affect the normalization of the market.

Leave a Reply