Commercial truck prices have experienced significant growth over the past year, climbing by double digits, although recent pricing patterns have exhibited mixed results. This fluctuation is primarily influenced by uncertainties surrounding tariffs and market volatility, which are impacting the industry.
According to Equipment Finance News’s Average Truck Price Trends dataset, prices for new, used, and certified pre-owned commercial trucks increased during the first year. The average price for a new commercial truck reached $183,950 as of November 10, marking a 2.5% rise month-over-month and a 25.3% rise year-over-year.
On the other hand, the average price for used trucks fell by 9.9% month-over-month, yet increased by 12.5% year-over-year, reaching $43,338. Meanwhile, the average price for certified pre-owned trucks surged by 203.9% month-over-month and 10.2% year-over-year, hitting $83,950. The EFN dataset tracks these pricing trends in the trucking sector, with data available since November 2024 and updates occurring daily.
Market Concerns
The rapid increase in new truck prices year-over-year is leading to accelerated depreciation for newer models, causing them to lose value much more quickly than older trucks. Jim Ryan, Equipment Lease and Finance Manager at Sandhills Global, pointed out that this depreciation is a significant challenge for the resale market.
Ryan explained, “For the resale market and end users, this represents a substantial drop in value over a three-year period, which is currently at the heart of the trucking industry’s issues. The depreciation can be extreme right now.”
Despite the challenges facing the trucking sector, there remains a fundamental need for trucking services, presenting potential opportunities as the industry begins to recover from recent downturns. Anthony Pordon, executive vice president of investor relations and corporate development at Penske Automotive Group, highlighted this during his speech at the Gabelli Funds’ 49th Annual Automotive Symposium on November 3.
“The truck business is facing some difficulties currently, but everything in this country is transported by truck. As the marketplace improves, many of the current issues will resolve, making these businesses thrive.”
Moreover, ongoing uncertainties regarding truck tariffs have hindered pricing and order placements, which could complicate the forthcoming quarters as manufacturers adapt to compliance requirements and supply constraints. Rush Enterprises Chairman and CEO W.M. “Rusty” Rush stated during the company’s earnings call on October 30 that, while the market faced a freight recession, building and selling trucks continued longer than needed.
“Now we’re adjusting to the current market conditions along with governmental activities… I remain cautiously optimistic, but it won’t be a quick fix over the next six months,” he added.
