Reefer trailers and sleeper trucks appeared to be more volatile than dry vans and day cabs in January, according to a report from Sandhills Global.
The used heavy-duty truck market saw all metrics—inventory, asking values, and auction values—fall both month over month and year over year. Sleeper trucks led the monthly decline, while day cabs drove the year-over-year weakness.
Inventory levels tightened in January, shrinking 3.9% from the prior month and 11.37% compared to a year ago. Used sleeper trucks saw the sharpest monthly inventory decline at 5.17%, while day cabs saw the steepest year-over-year contraction at 13.4%.
Pricing saw a similar downward path. Asking values were down 1.87% month over month and 2.73% annually. Sleeper trucks led the monthly asking value decline at 2.45%, and day cabs showed the most notable year-over-year price decrease at 5.55%.
At auction, prices declined 0.98% from December and 4.58% from January of last year, with sleeper trucks again driving the largest monthly drop (1.82%), while used day cabs posted the steepest annual decline (6.59%).
[Related: Used truck supply and demand balanced, but market still favors buyers]
Trailer market
The used semi-trailer market saw inventory falling, yet asking and auction values are trending sideways, Sandhills Global noted. Used trailer supply fell 5.84% month over month and 18.46% year over year. Reefer trailers saw the most significant downward trend at 10.4% month over month, while dry van trailers led the year-over-year decline at 26.23%.
Unlike trucks, trailer pricing showed some strength. Asking values rose 3.51% from the prior month; reefer trailers led the way—up 4.62% month over month—while used dry van trailers were the weakest, with a year-over-year decrease of 3.58%.
Auctions showed a similar pattern: prices climbed 5.15% from the prior month, despite a 4.54% year-over-year decrease. Used reefer trailers saw the largest auction value jump at 7.15% month over month, while dry vans posted the steepest annual decline at 16.51%.
Dealers are “expressing a degree of optimism” despite mixed trends, according to the report.
“Relatively strong January sales in some markets, along with a sense that several markets have bottomed out and are beginning to tick up, have sparked a cautiously positive outlook for a gradual recovery throughout 2026,” it said.
Pent-up demand for new truck orders could lift used truck market
Data from J.D. Power’s February 2026 Commercial Truck Guidelines offered another take on pricing, reporting that 2026 started on a positive note, with auction and retail pricing up month over month and year over year.
Retail selling prices were up 1.7% from December and 7.1% from the prior year. Auction selling prices rose a notable 6.5% from December and are up 4.4% year over year. wholesale prices dipped 3.6% month over month but remained 13% above year-ago levels.
J.D. Power
On the retail front, J.D. Power showed that the average age of trucks retailed in January was 59 months—two months older than December, but still 10 months newer than the long-term average. This suggests that late-model units continue to move through the market. Average mileage was up 3.5% month over month but down 8.1% year over year, consistent with stronger demand for lower-mileage equipment.
In terms of sales volume, J.D. Power noted that auction volume fell 44.8% from December, though it remained 13% above January 2025 levels. The company described it as a typically slow month for auction activity.
Looking ahead, J.D. Power director of specialty vehicles Chris Visser said, “As 2026 begins, new truck orders suggest pent-up demand is transitioning into replacement and used truck metrics show continued strength.”
Visser noted that trucking capacity may be tightening faster than many had anticipated, which could partially offset the increased trade volume from higher new truck deliveries.
Rising freight rates could also fuel demand for late-model, low-mileage trucks. While economic and trade policy uncertainty has become a normal backdrop, Visser concluded, “As long as consumers continue to spend, freight and equipment metrics should continue to move in the right direction.”
