Looking at the average price of the benchmark sleeper tractor sold through the two largest nationwide no-reserve auction companies, Class 8 auction volume increased in June, reflecting high levels of off-lease supply and mild to moderate increase in demand. Pricing was fairly stable for late-model trucks, and low-mileage trucks look to be increasing in value. Conditions in the second half will depend on the degree of economic reopening.
In every class, retail sales saw year-over-year decreases, presumably caused by the COVID-19 outbreak. The Class 8 market saw the biggest decline, with sales plummeting more than 60% in May 2020 compared to May 2019.
By Heavy Duty Trucking
Although labor issues remain a significant challenge for respondents in the National Private Truck Council's annual survey, they continued to report retention and turnover performance far better than their for-hire colleagues.
Heavy-duty truck driver and tractor-trailer driver wages and employment rates vary greatly by state.
While both tractor and trailer sales saw a surge in October of 2019, those numbers quickly started dropping, with a COVID-19-related low in April 2020 of 1,680 tractors and 209 trailers.
EPA SmartWay data from 2018 shows Class 7, 8A, and 8B mileage-weighted miles per gallon data for each truck category for SmartWay program participants.
The number of models of zero-emission trucks, buses, and off-road equipment available globally is expected to double between the end of 2019 and 2023.
Spot rates were all about the old adage “what goes up must come down.” After strong growth in 2017 and 2018, rates in 2019 were sharply negative through mid-year before firming.
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