Over the past year, commercial truck prices have surged by double digits, affected by mixed pricing trends in the last month and uncertainties surrounding tariffs, along with fluctuations in the market, impacting the industry significantly.
According to the Equipment Finance News’s Average Truck Price Trends dataset, prices for new, used, and certified pre-owned commercial trucks increased during the first year analyzed. By November 10, the average price of a new commercial truck reached $183,950, representing a 2.5% increase month-over-month and a 25.3% rise year-over-year.
In contrast, the average price of used trucks declined by 9.9% MoM but increased by 12.5% YoY to $43,338. Moreover, the average price for certified pre-owned trucks saw a remarkable surge of 203.9% MoM and 10.2% YoY, reaching $83,950. The dataset tracks pricing trends in the trucking sector back to November 2024 and updates daily.
Market Concerns
Rapid year-over-year growth in new truck prices is accelerating early-life depreciation, causing newer models to lose value much quicker than older ones, according to Jim Ryan, Equipment Lease and Finance Manager at Sandhills Global. He elaborated that, “Resale markets are witnessing a significant decline within just three years, marking a critical issue for the trucking industry.”
“The trucking sector is facing difficulties currently; however, everything in this country relies on trucks. Once the market stabilizes, many businesses are set to thrive.” — Anthony Pordon, EVP of Investor Relations and Corporate Development, Penske Automotive Group
Additionally, ongoing uncertainty regarding truck tariffs is hindering pricing and order placements, predicting a challenging few quarters ahead as manufacturers adjust and supply stabilizes, as noted by W.M. “Rusty” Rush, Chairman and CEO of Rush Enterprises.
“The challenge arose as we continued to manufacture and sell trucks longer than we anticipated during a freight recession. Now, we’re in the process of aligning to the market realities, and while I possess some optimism for the future, improvements are not expected in the next six months.”
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