Ritchie Bros. Auctioneers, the leading global auctioneer for heavy equipment and trucks, has shared sales figures highlighting the difficulties faced by the U.S. trucking sector as companies deal with low rates and economic unpredictability. Prices for three-year-old 53′ dry van trailers, which reached a high of $48,000 in 2021, have now dropped below $20,000. The surge in trailer sales stems from bankruptcies, such as Yellow, that have inundated the market with low-quality trailers, thus driving down prices, and from repossessions, with most of the late-model trailers up for auction being sold by banks.
The Q3 2025 Transportation Review from Ritchie Bros. illustrates how these challenges have negatively affected carrier sentiment, shaping supply, demand, and pricing dynamics within the industry.
Excessive Truck Inventories and Minimal New Orders
The RBA report reveals a serious oversupply issue, particularly regarding new truck inventories. Dealerships are currently holding over 90,000 Class 8 trucks, a drastic rise from fewer than 50,000 units in late 2021. This excess leads to lower spot and contract rates, forcing carriers to trim their fleets. The report emphasizes, “The market needs more trucking authorities leaving the market. We need fleet retraction/elimination,” highlighting the critical need to correct the imbalance between supply and declining demand.
Repossessions are compounding the oversupply crisis as small and mid-sized fleets divest themselves of vehicles. The report notes that out of 162 units sold in Q3 2025, 158 were repossessions, increasing the pressure on inventory levels and preventing a quick price recovery. The ongoing repo activity underscores the difficulties in aligning truck inventories with current demand.
Stable Tractor Prices vs. Declining Trailer Prices
Despite ongoing economic challenges, demand in the trucking sector appears to be stabilizing, albeit remaining weak. The report states that Class 8 truck net orders have plummeted to their lowest levels since the end of the last recession, suggesting a cautious approach from large fleets as they adopt a “wait and see” strategy regarding new purchases.
Nonetheless, the national trucking freight market experienced growth in Q2 2025, with increases in shipment and spending volumes. However, year-over-year data indicates a contraction, albeit at a slower rate, hinting at potential stabilization. Future recovery will significantly depend on the predictability of both domestic and international trade policies.
Pricing trends reveal a complex situation within the market. While prices for sleeper trucks have remained stable according to age, specific segments like day cabs and trailers have seen declines. The report notes that dry van trailer prices are sharply down, compounded by a market flooded with trailers from bankruptcies like Yellow Freight in 2024. This influx has hindered typical price recoveries, with dry-van trailer spot rates stabilizing at $2.18 in early July—compared to an average of $1.98 in 2024—indicative of an ongoing suppressed pricing environment.
Equipment sales figures further reflect a cautious market sentiment, as Q3 2025 recorded the third lowest sales volume for that quarter in the past six years, with only 15.6k units sold, a sharp decline from the more than 120k units sold in 2024. This suggests that carriers are hesitant to expand their fleets amid ongoing uncertainties, which limits both vehicle sales and auction acquisitions.
Overall, carrier sentiment within the U.S. trucking sector remains subdued as of Q3 2025, largely due to an oversupply of vehicles and an unstable economic environment. This interplay of factors has led carriers to adopt conservative purchasing strategies, contributing to a continuing wave of repossessions. The path to sector recovery heavily relies on aligning inventory with demand and achieving greater regulatory and economic stability in the forthcoming quarters.
