Used truck auction prices slipping but still historically high

May 20, 2022 at 10:05 AM CST
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] hammer prices for all trucks sold in April 2022 and early May 2022 were noticeably lower than earlier in the year,” Power said in its latest Guidelines newsletter. A 3% month-over-month increase for 2018 models contrasted declines of 3.7%, 4.2% and 19.8% for 2020, 2019 and 2017 model year sleeper cabs. The big dip for 2017 models correlated with a mix of less-equipped trucks and a small sample size.

May 20, 2022 at 10:05 AM CST

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] hammer prices for all trucks sold in April 2022 and early May 2022 were noticeably lower than earlier in the year,” Power said in its latest Guidelines newsletter. A 3% month-over-month increase for 2018 models contrasted declines of 3.7%, 4.2% and 19.8% for 2020, 2019 and 2017 model year sleeper cabs. The big dip for 2017 models correlated with a mix of less-equipped trucks and a small sample size.