Used prices to see ‘double-digit’ hike in 2027: Ryder’s Diez

“You are seeing the early innings of a recovery of used vehicle sales," Diez said. (jetcityimage/Getty Images)

Used truck and tractor prices are set to rise at least 10% year over year in 2027 as market conditions tighten, according to Ryder System CEO John Diez, after increasing about 5% in 2026.

“We should see continued healthy, strong uplift in tractor used vehicle pricing,” Diez told the Deutsche Bank Chicago Industrials Summit, after noting that prices improved about 5% through the first half of 2026.

“You are seeing the early innings of a recovery of used vehicle sales. With that sputtering market moving up, we have a lot more people buying into used equipment and [beginning to] participate in that market,” he added, noting that the spot freight market recovery was the primary factor behind the change.

Historically known for its used vehicle sales and leasing operations, Ryder ranks No. 7 on the Transport Topics Top 100 list of the largest for-hire carriers in North America.

Used tractor pricing increased 6%, and truck pricing rose 3% year on year in the second quarter of 2026, Miami-based Ryder said when releasing its Q2 earnings. In comparison with the first quarter of 2026, used tractor and truck pricing increased 7% and 3%, respectively, after declining sequentially in the first three months of the year.

Ryder’s used vehicle sales in the most recent quarter fell 18% year over year to 5,100 from 6,200 but rose 10.9%, or 500 vehicles, compared with the first three months of 2026.

An improvement in the used-truck and leasing market typically precedes upside for sales of new trucks, although prices for used vehicles can slide as fleets offload their existing rolling stock.

J.D. Power Director of Specialty Vehicles Chris Visser wrote in a blog Aug. 19 that the expectation proved accurate in July, with average used Class 8 retail sales prices falling 3.4% compared with June and 6.2% year over year.

But Ryder’s Diez said used truck prices would rise alongside new truck prices in the coming months, although fleets are still waiting to hear from truck manufacturers what model-year 2027 prices will be following the Environmental Protection Agency’s unveiling of its draft notice of proposed rulemaking (NPRM) on nitrogen oxide emissions.

EPA previously said it expects truck buyers to see up to $6,000 per vehicle in emissions-related warranty savings as a result of the NPRM. But some original equipment manufacturers told carriers in May that potential price hikes estimated at $20,000 would be cut in half if 100,000-mile or five-year warranty terms were in place.

“We are expecting EPA regulations to take effect next year,” Diez told investors at the conference Aug. 11. “That’s going to move pricing up. We do expect that to be meaningful. It could be high single digits to low double-digit increases based on the latest information.”

Carriers are not expanding their fleets, said Ryder’s top executive, despite the increase in rates, noting that freight activity was not increasing. Most purchases, he said, were confined to replacement demand after carriers delayed spending during the longest freight market downturn in industry memory.

Buyers of new trucks, however, are likely to benefit from truck and engine manufacturers staggering the introduction of model-year 2027 engines, a strategy Cummins said it would adopt and International Motors parent company Traton Group said it was considering.