Used medium-duty truck prices decreased again in August due to high inventory levels, coupled with tariff worries and pressures on freight rates.
According to Jim Ryan, Equipment Lease and Finance Manager at Sandhills Global, transportation values are under pressure as weak freight spot rates hinder overall auction activity, even though inventory levels remain mostly stable. However, certain sectors are experiencing isolated strength.
Ryan noted, “Many late model, lease-return trucks are fetching better prices than in previous periods. But until spot rates improve, it’s hard to see a different situation.”
With seven freight carriers declaring bankruptcy in the past month, spot rates face direct pressure and add to the uncertainty surrounding market recovery and asset absorption, Ryan stated.
Truck Market Challenges Extend to 2026
Issues related to emissions policy, tariff pressures, and lease returns are contributing to a decline in the values of used heavy- and medium-duty trucks. Ryan anticipates significant inventory entering the market through 2026.
He mentioned, “Thousands of trucks are still out there, coming off lease, and will eventually enter the market. This influx could occur in the next year, particularly in Q1, Q2, and Q3, indicating there will be ample inventory available.”
On the dealership side, Custom Truck One Source is aiming to sustain margins in the range of 15% to 18% as they head into 2026, down from previous highs of 17% to 18% seen in 2023 and 2024, according to Chief Financial Officer Christopher Eperjesy during the D.A. Davidson Diversified Industrials and Services Conference in Nashville, Tenn. in September.
Condition of Used Heavy-Duty Trucks
Year-over-year, inventory for used heavy-duty trucks dropped by 13.9%, while month-over-month it fell by 0.2%. Asking values decreased by 0.7% year-over-year and by 1.5% month-over-month. Moreover, auction values fell by 1 basis point year-over-year and 2.1% month-over-month.
Medium-Duty Used Trucks
Inventory for medium-duty trucks rose by 5.8% year-over-year but saw an 8.5% decline month-over-month. Asking values were down 5.2% year-over-year and 1.9% month-over-month, while auction values fell by 7.5% year-over-year and 1.1% month-over-month.
Used Semitrailers Status
The inventory for used semitrailers saw a decrease of 13.9% year-over-year and 0.2% month-over-month. Asking values dropped 1% year-over-year, along with a 0.8% decline month-over-month, while auction values slipped by 0.8% year-over-year and by 0.5% month-over-month.
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