Used sleeper trucks are making a dent in the market in July, while the semi-trailer market is under pressure, especially in reefers, according to a report from Sandhills Global.
In the used heavy-duty truck market, inventory ticked up slightly in July, rising 1.88% compared to June. Supply remains much tighter than last year, as it’s down 17% year over year. Used day-cab trucks posted the biggest month-over-month gain at 5.38%, but sleeper trucks are driving the longer trend with inventories falling at 25.04% compared to a year ago.
Sandhills Global
Prices for used trucks are inching up. Asking values climbed 3.6% month over month in July and are also 0.08% higher than last year. Sleepers once again led the market, with asking value increasing at 4.47% from June to July, while used day-cab trucks remain cheaper year-over-year, down 6.2%.
Auction results show similar strength, with values up 5.99% month-over-month and 1.31% year over year. Sleepers showed the strongest gains, up 6.56% month over month and 7.45% year-over-year.
[RELATED: Used truck and trailer markets show seasonal shifts as fleets trade in older units]
Trailer market
The used semi trailer market showed a different outlook. Inventory increased 2.96% month-over-month and decreased 13.5% year-over-year in July. Used reefer trailers stood out with the biggest monthly increase at 8.77%, while dry vans showed the sharpest year-over-year decline at 24.4%.
Sandhills Global
Compared to trucks, trailer pricing has softened. Asking values dropped 2.6% from June and 2% year over year in July. Reefers again led the move downward, with asking prices falling 6.19% month over month. The used drop-deck trailer category saw the largest year-over-year decline, down 4.2%.
Auction values also weakened, decreasing 3.71% month over month and 2.1% year over year. Reefers also saw the biggest drop, down 12.59% month over month and 8.82% year over year.
[RELATED: Demand for late model used trucks surges despite inventory declines]
What’s shaping truck values?
In July, Class 8 sleeper retail prices slipped, marking the first month-over-month decline since December 2024, said Chris Visser, director of specialty vehicles at J.D. Power. However, dealers still sold more trucks than in June. Compared to last year, retail prices are still running ahead.
July, usually a quiet month for Class 8 auctions, followed seasonal behavior, according to J.D. Power’s August 2025 commercial vehicle market update report. Overall volume declined from June, and sleeper tractor pricing showed little movement.
J.D. Power’s average pricing showed that late-model sleeper tractors had mixed results:
- Model year 2023: $83,325; $18,333 (28.2%) higher than June
- Model year 2022: $45,369; $8,590 (15.9%) lower than June
- Model year 2021: $42,203; $6,699 (18.9%) higher than June
- Model year 2020: $34,727; $3,207 (10.2%) higher than June
- Model year 2019: $24,126; $1,538 (6.8%) higher than June
At auctions in July, selling prices for the 4- to 6- year-old trucks averaged 1.1% higher than June but 0.6% below July 2024. Compared to historical benchmarks, pricing for this group remains 7.4% higher than 2018 pre-pandemic levels in nominal figures (16.1% lower after adjusting for inflation) and 64% above the late-2019 market low (about 30.7% when adjusted for inflation).
CCJ parent company Fusable’s Price Digests also noted that used sleeper tractors saw minor value shifts from June to July. Two-year-old models slipped from $105,470 in June to $104,150, while 5-year-old units edged down from $49,500 to $49,060. In contrast, 10-year-old units inched upward, rising from $26,170 in June to $26,580 in July.
Looking at the bigger picture from July 2024 to July 2025, the data shows slight year-over-year gains for the newest and oldest tractors, with 5-year-old units remaining essentially flat.
“EPA 2027 regulations are all but rolled back at this point, providing some motivation for new truck buyers to plan their purchases over the next 18 months,” Visser said.
However, Visser noted that new truck prices are expected to rise “due to tariff-induced materials costs and the R&D that was already done on EPA 2027 drivetrains.”
On the demand side, Visser said the freight market remains sluggish, and used truck conditions won’t change until more trucks and capacity are thinned out, alongside stronger manufacturing and consumer spending.
