Truck prices continue growing
The average retail price of a pre-owned heavy-duty commercial vehicle rose 11%. the average retail price of a used truck rose 11% and average miles and age both were lower, down 3% and 7%, respectively, from February. Compared to last March the average retail price was 90% higher, with miles and age greater by 3% each. According to Steve Tam the used truck industry is still plagued by demand greatly in excess of supply. As a result, longer-term comparisons are more representative of current market conditions. The question on everyone’s mind is how quickly will the market correct?
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