Truck prices one year later. First was the rate crash and now the truck price crash is under way.

You want see new truck prices going down until allocations equal out. New truck makers as new car makers aren’t in a hurry to get that corrected either. They are making bank on new trucks right now.

 

I was there too, my 1st( and only) mortgage rate was almost 8%, in the early 80s. I agree with you, however, that was 40 years ago, and people were willing to give up something for a chance to make things better. We were all in the same boat, it seemed. Today, that won't work, as our society is geared for the rich getting richer, and the poor to fuel it. Speaking of fuel, did you hear, Shell Oil posted a RECORD 1 year profit of 40 BILLION!! To be clear, Germany and Japan went through sheer hell, and it was no easy task, and yes, we did help them, who is going to help us? China? Again? I'm confident, the only ones that will survive, are the historians that will write books about this time period.

 

Good trucks are still ridiculously overprice just look on auction time and see what well used 379s 389s and used up W900's are bring'n its crazy their all around the 100k with 1.5 million on the clock...
Its the generic plastic throw away trucks that have goten cheaper..
Plus interest has gone up Significantly on financing in the last 12 mths

 

Imagine paying 130+ for a Freightliner a year ago and today it’s dropping to around $45,000. No one can absorb that loss. If rate’s don’t pick up soon there’s going to be repo’s all over the nation. Banks and finance companies all over will be selling these trucks for nothing if this freight trend doesn’t move upward….

 

Did you hear Pfizer posted 81.2 billion profit for 2021. All paid for by tax payers. I’d worry more about that than 40 billion for an oil company.

 

3 days ago I saw a 2019 Volvo 860 with just over 500,000 guy was trying to sell it for $125k....!!

Good luck with that

 

He can only dream...

 

You'd think so, but it just shows to go ya', even selling it at $45K, they are still making something. Think of the trucks they sold for $130K. Kind of like the classic car hobby lately. Some cars will always command a premium price, but it's the custom jobs, that you know the builder has $100K into it, and barely sells for $10grand. A $90,000 loss. Same with trucking. You know, that used Freightliner is going to appeal to a certain group of buyers, and it just so happens, THOSE buyers aren't buying. That's the crap shoot of the used truck biz. It's a mess, for sure.