Commercial truck prices climbed up $42,100 in October, up 11% over the previous year, according to ACT Research. Used truck prices have been rising in recent months as more late model, low mileage equipment has reached the used vehicle market, analysts say.
The rise in used vehicle prices is influenced by an increase in trade-ins as fleets ramp up new truck purchases to replace older equipment, said ACT Vice President Steve Tam. Large truck sales are seeing an increase in recent months after a string of declines over the past decade.
Retail prices for used Class 8 sales rose 15.6% in October, according to Ward’s. Retail used Class 8 sleepers have seen a strong market too, with their prices remaining near record levels, according to American Truck Dealers.
