Used-Truck Prices Rise as More-Recent Models Reach Market
Used-truck prices have escalated in recent months as more late-model, low-mileage equipment has reached the used market, analysts said.
The average price of a used truck sold in October climbed to $42,100, up 11% from a year earlier and marking the third straight year-over-year gain, according to ACT Research. November figures were not yet available.
ACT Vice President Steve Tam said the rise in used-vehicle pricing reflects an increase in trade-ins as fleets ramp up new-truck purchases to replace their older equipment.
New Class 8 sales rose 15.6% in October and 11.3% in September following a string of 12 year-over-year declines, according to Ward’s.
Meanwhile, retail prices for used Class 8 sleepers remained near record levels, according to American Truck Dealers.
The average retail price of a used sleeper cab sold in October was $53,365, up from $49,366 in the same month last year but down from the all-time high of $54,090 recorded in August, ATD analyst Chris Visser said.
