Used Sleeper Truck Prices Hold Firm as New Drivers Seek Clean Trucks

Prices for used Class 8 sleeper tractors mostly held their ground in September after climbing in late summer, according to market analysts quoted by Overdrive. J.D. Power points to new drivers as part of the reason.
What J.D. Power found
In its October Commercial Truck Guidelines report, J.D. Power said retail prices for used sleepers fell only about half a percent in September from August. Wholesale prices fell 3.4%, and auction prices dipped nearly 5%.
J.D. Power said a deeper look at summer prices found that the August increase "was an actual market shift and not due solely to an anomalous mix of specs in our averages." "That value increase held through September."
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"More new drivers entering the industry needed clean used trucks at a time when inventory was tight," J.D. Power said. "Pricing held firm in September, indicating conditions did not change appreciably." The firm added that trucks sold at retail in September were a month older, with 1.6% more miles, than those sold in August.
Price Digests sees a slight rise
Figures from Price Digests, which is owned by Overdrive's parent company Fusable, showed a slight increase in used sleeper pricing for September:
- 2-year-old sleepers: up about 3%
- 5-year-old sleepers: up about 3.6%
- 10-year-old sleepers: up about half a percent
The wider used truck market is softer
ACT Research saw more of a downward trend in the broader used truck market beyond sleepers. Its preliminary September numbers showed the average retail price dipping 1.5% from August to $61,000. ACT said auction and wholesale prices also fell, "with the combined preliminary average sale price for all units dropping 7.1% month-over-month."
"While tighter inventories have been a persistent theme, it's clear that higher interest rates and ongoing challenges in the driver pool and fuel costs are also influencing the used truck market," said Steve Tam, vice president at ACT Research.
A question for readers
If you are shopping for a used sleeper right now, what matters most to you: the miles, the model year, or the price?
Share your thoughts on our Facebook page.
Sources
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