Prices On Used Trucks Continue To Change In USA
During the first 10 months of the year, prices for used trucks went up dramatically. J.D. Power Valuation Services estimates the annual increase in auction prices at 89,9% – while compared with the previous month, the figure is down 7%.
Delays and long delivery time for new trucks due to a shortage of semiconductors and other spare parts increased the delivery time to one year.
“Many fleets, we’ve talked about, have excess capacity and lack of people to drive trucks,” said Steve Tam, vice president of ACT Research. “At the same time, they ordered equipment, and they aren’t pleased with delays in delivery. Some fleets, which usually don’t buy trucks, turn to the secondary market searching for equipment.”
“There is no doubt that much of the growing demand for used trucks comes from new entrants to the market, many of them are either individual truck operators or small fleets,” Tam said.
“Model year 2019 shipments were about 30% higher than 2018 shipments,” Power told Guidelines. “In recent months, we’ve seen a gradual increase in the number of trucks sold in 2019, but the demand for these trucks continues to exceed supply.”
Lower vehicle numbers at auctions in October showed prices rise across the board for the latest 2018 model year trucks, up 1,5%. In comparison, the 2014 models cost 11,5% more. On average, prices increased by 8,9-11,1% over three years.
In retail, compared to September, the average price in October was:
2020 model year: $ 134,178 an increase of 2,6%.
2019 model year: $ 107,725 an increase of 3,3%.
2018: $ 86,401 an increase of 1,3%.
2017: $ 72,682 an increase of 3,8%.
2016: $ 55,904 an increase of 0,3%.