Used truck prices likely to continue to climb
Summary
Carriers turning to the used truck market to supplement tractor count have ben met with record prices nearly every month, and thats not likely to change in the immediate future. In the context of the lowest level of inventory the industry has probably ever seen, dealers have pulled out all the stops in an effort to provide buyers with as many units as humanly possible.” Tam said. Given the dynamics of underlying fundamentals, namely freight and freight-hauling capacity, prices are likely to continue climbing higher in the near term.” The auction market isnt fairing any better and on a percentage basis, it battering would-be buyers more than retail. Power Senior Analyst and Commercial Vehicles Product Manager Chris Visser said theres a lingering sense of urgency in the auction lanes, "with buyers continuing to pay record pricing for desirable trucks. We’ll be keeping our eye out for an increased number of model-year 2019 trucks in the auction lanes in upcoming months as those units turn 4 years old," he said.