Have you been noticing something in regards to Class 8 Trucks? Used ones in particular? Well, if you haven’t seen it, there has been an increase of sales of their Used Class 8 Trucks well from 20,100 units about 21,500 units, year-over-year. On average, the retail sale price for a truck of used quality would have fallen from $83,939 to $62,935 by about 25%, only a year ago. Meanwhile, the 1% month-over-month had occurred earlier in September. The retail mileage from a used truck has therefore dropped 7% to 413,000 from the earlier quantity of 444,000 in 2022 alone. All while keeping consistent with the same results from the month before. As a result, sales increase by about 4.9% on a month to month basis from 20,5000 units in September.

As a result the less-than-expected declines show insurmountable evidence of pricing stability. The lower prices continuing through to 2023 will show a return to form as month-over-month growth continues to the end of next year. There are predictions of a downwards pressure upon pricing as the economy is seen to easily strike a balance between the supply of trucks and any available freight. As such, the freight rate environment is likely to correct after the excess truck capacity becomes absorbed. October is a promising month to look at in that regards.

A online marketplace for new commercial vehicles is able to track buyer interest through the means of monitoring the sporadic viewing of listing specifics. Commercial Truck Trader has found buyer interest for sleepers that trend low for the month as the intrigue in day cab trucks can remain consistent for new and used trucks.

The demand for new trucks remain high, but selling off old trucks will never go out of style.

A trend has been popping up for leasing companies with plenty of extended leases get turned in, while the older and higher mileage trucks won’t make much more money as the commercial vehicles enter the market.

Even J.D. Power had made mention in a report how older and higher mileage trucks would keep on depreciating in October. Such a report had been found to see newer than 5 years old as it was depreciated less than the month before, while the late-model segment had kept on losing value during the month.