Penske Turns to Online Auctions in Selling 3,000 Used Trucks Online

The sagging used truck market and a dot.com auction site will try to give each other a boost next week when Penske Truck Leasing attempts to sell 3,000 used trucks online.

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The auction, being orchestrated by TradeOut, of Valahalla, N.Y., will take place Aug 23-31. Penske will list Class 3 through 6 trucks built in 1997 and 1998 that had been used as one-way rentals.

Tom Janowicz, Penske’s general manger for e-business, said the trucks are mostly low mileage and that the Reading, Pa., company is thinning it’s fleet because peak moving season, which goes from May until August, is coming to a close.

Henry Popplewell, group vice president for TradeOut’s transportation division, estimated the total value of the trucks to be between $30 million and $35 million. He said that Penske’s and TradeOut’s goal is to sell 500 trucks during the nine-day auction.

For the full story, see the Aug. 14 print edition of Transport Topics. Subscribe today.