11/02/2023
Given the current unfavorable state of the trucking market, an increasing number of carriers are exiting the market, leaving equipment behind. Just a year or two ago, acquiring equipment or rentals seemed almost impossible, while the current equipment situation is significantly improved.
By closely monitoring the market, it has become evident that equipment prices are on the decline. Just four months ago, the average cost for a Class 8 semi-truck produced between 2017 and 2023 was approximately $71,000. This price has been steadily decreasing each month and currently hovers around $68,000. However, these prices apply when purchasing from dealers or leading websites specializing in used equipment sales. According to data from Taylor & Martin auction house, the average price of used trucks is considerably lower than the aforementioned figures. The current average price for 2017-2023 semi-trucks is around $38,600. For instance, 2018 and 2019 models are averaging around $28,000, while 2021 models command an average price of about $58,000. Slightly older models from the 2010-2016 period are, on average, priced at around $17,800.
Regarding re**er trailers, in dealerships or stores and on websites that focus on used equipment sales, the current price for 53 re**ers from 2017-2023 stands at approximately $46,500. This represents a decrease of about $4,500 compared to four months ago. According to Taylor & Martin, the average price for 2017-2023 used re**er trailers is around $27,400, while somewhat older models from the 2010-2016 period are averaging about $13,500.
In any case, our recommendation has consistently been that if you intend to purchase equipment, it's best to consider new options. However, we hold the view that new equipment prices remain exceedingly high in this market, making it impractical to opt for something brand new. Instead, the alternative is to explore the option of used equipment. Should you decide to buy from dealers, you will likely end up paying double the price. Nevertheless, if you opt for auctions, the cost will be substantially lower, although the quality of such equipment may raise some concerns.
