The average retail price of used trucks is creeping up, putting more pressure on truckload carrier capacity, according to an ACT Research study.
The average retail price of a used Class 8 tractor rose 3 percent from the previous month in September to $42,100, ACT Research said.
The number of units sold declined 5 percent from August as dealerships reported tightening supply of late-model equipment, but sales were nearly 25 percent higher than in September 2009.
By The Numbers: Cass Freight Index.
That's exacerbating a shortage of available used equipment, driving up prices, said Steve Tam, vice president of the commercial vehicle sector at ACT.
Demand for used trucks is still rising compared with last year, Tam said. "All three used truck sales channels (auction, retail and wholesale) are well ahead of last year's pace," he said.
Used truck dealers are "cautiously optimistic" about future sales as freight, trucker profitability and new truck demand are improving, Tam said.
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