The used heavy-duty truck and semi-trailer inventory keeps shrinking as auction values climb, according to a report from Sandhills Global.
In the overall market, truck inventory fell 6.16% month over month and 37.7% year over year in August, extending a decline that has lasted for nine months. Day cabs saw the steepest monthly drop at 7.15%, while sleepers posted the sharpest annual decline at 42.3%.
Used semi-trailer inventory edged up 0.7% month over month in August, but fell 31.38% year over year, continuing a downward trend for 13 consecutive months. Used drop-deck semi-trailers posted the largest monthly increase at 10.29%, while used reefer semi-trailers saw the steepest annual decline at 48.29%.
[RELATED: Used HD truck and trailer inventory drops toward pandemic-era lows]
Auction values lead the way
While inventory tightened, asking values were mixed. In the heavy-duty truck segment, asking values rose 2.99% month over month but remain down 2.2% year over year, with broader trend still pointing lower. Day cabs showed the biggest movement, increasing 3.08% month over month and slipping 3.7% year over year.
Trailer asking values rose 0.46% month over month and 5.88% year over year, with the trend pointing higher. Used dry van semi-trailers had the biggest move, dropping 2.27%, while reefers led on an annual basis, climbing 10.45%.
Auction values rose on both segments. Truck auction values climbed 4.91% month over month and 3.03% year over year, and the trend is upward. Sleeper trucks led the gains, up 5.7% month over month and 5.91% year over year.
Trailer auction value prices gained 1.57% month over month and 11.47% year over year, and the trend is upward. Dry vans showed the largest monthly change, falling 3.59%, while reefers saw the biggest annual jump, up 21.8%.
Auction activity jumps, dealer sales plummet
Auction and wholesale activity is up, according to J.D. Power’s September 2026 Commercial Truck Guidelines report. Auction selling prices climbed 2.4% month over month and 34.6% year over year, while wholesale prices rose 2.9% month over month and 21.5% year over year. Retail prices increased 9.8% month over month and 8.5% year over year, though J.D. Power noted that August’s monthly averages were inflated by an unusual mix of high-priced owner-operator trucks. Pricing for individual trucks was generally unchanged from July.
Price Digests, owned by Fusable, parent company of CCJ, recorded modest gains in August average sales prices for 2- and 5-year-old sleeper tractors, while 10-year-old units slipped.
Data indicated that 2-year-old sleepers edged up just 0.4% to an average of $89,560, and 5-year-old units climbed 3.1% to $52,430. Ten-year-old sleepers, meanwhile, fell 3.7% to $25,390. Since March, 2-year-old trucks have dropped by more than $15,000.
ACT Research noted that same dealer used Class 8 retail truck sales declined 24% month-over-month in August, counter to the typical seasonal increase, while the average retail sale price increased 2.2% to $64,367.
Compared to August 2025, retail sales were up 12% year-over-year and prices rose 11%. ACT Research Vice President Steve Tam said the notable drop in used Class 8 sales is not necessarily a reflection of weaker demand, but more likely a result of tightening inventory.
“Dealers across the country are reporting that used truck inventory is increasingly hard to come by, and our analysis of multiple advertising sources confirms that available units are down meaningfully from earlier in the year," he said. "With new truck sales also running below last year’s pace, fewer trades are making their way into the used market, supporting higher prices despite lower sales volumes.”
What’s next
J.D. Power expects to see more 3- to 5-year-old sleepers to come back on trade as customers take delivery of more new trucks in upcoming months. The average age of retail trucks fell 4 months month over month but is up 3 months year over year. Average mileage fell 0.8% month over month and rose 0.5% year over year.
“The 2027 model year has been backloaded, with heavy order volume early in the cycle not translating to proportional deliveries throughout 2026,” said J.D. Power, noting that this sets up customers for elevated volumes in the fourth quarter.
Cancellations could arise, but fleet replacement cycles and driver recruitment needs make that unlikely unless the economy pulls back significantly, J.D. Power noted.
