The Port of Oakland in California is experiencing a work stoppage and limited access to the container terminals as truckers escalate their protests against the state’s AB5 law.
Used truck auction prices started to ease in April as freight demand slowed, but they remain more than twice as expensive as a year ago.
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The unrelenting rise of used truck prices in auctions and at retail appears to be immune even to the threat of an economic slowdown.
Used truck prices continued to rise as 2021 ended with a short supply of late-model used trucks the main culprit, but there were other reasons too.
Drivers and fleets can get loans to pay sky-high prices for used trucks because spot rates let them earn more than enough to repay.
October was another month of “why bother” as fleets desperate for new Class 8 trucks held off adding bookings to a morass of back orders.
Sought-after used trucks nearly double in year-over-year price, according to J.D. Power Valuation Services.
The online auction from Ritchie Bros. attracted 8,600 bidders from 62 countries using the Ritchie Bros. mobile app.
