Commercial truck prices increased in July due to ongoing tariffs affecting costs, coupled with lower spot rates and higher operational expenses.
According to Equipment Finance News, July saw a rise in prices for new, used, and certified pre-owned commercial trucks. As of August 4, the average price for a new commercial truck was $193,043, marking a 2% increase from the previous month.
Average New Truck Prices
In contrast, the average used-truck price saw a 1.5% month-over-month increase, reaching $45,038. However, the certified pre-owned truck price declined by 57.4% to $79,793 based on EFN’s data, which tracks pricing trends in the trucking sector.
Furthermore, EFN’s Index of Commercial Trucks and Trailers Available for Sale and Lease recorded a 1% month-over-month increase to 91.5 on August 1. This interactive index, updated daily, draws on data collected since November 2024.
Broader Trucking Challenges
The trucking sector faces several challenges in addition to tariffs, including a decline in Class 8 truck sales, low spot rates, and surging operational costs. These issues are sometimes momentarily alleviated by decreasing fuel prices, according to Anthony Sasso, head of TD Equipment Finance.
Consumer Price Impact
Despite the pressures from tariffs, U.S. consumers have avoided significant price hikes reflected in July’s Consumer Price Index, which saw a 0.2% increase in headline CPI. In contrast, core CPI rose by 0.3%, its highest monthly growth since January.
This ongoing uncertainty regarding tariffs is prompting businesses to defer or reduce equipment purchases as they conserve liquidity for potential future expenses. Consequently, companies may opt for fewer new trucks and utilize their existing fleets instead.
Predicted Recovery
Predicting a recovery timeline for the trucking industry remains challenging. Sasso noted that 2025 is expected to be sluggish, while many clients anticipate a potential uptick in 2026, though this remains uncertain.
