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Used Truck Market: Why Supply & Pricing are So Strong Now

The used truck market is experiencing unprecedented strength! Daimler Trucks’ Chris Backeberg explains why sleeper inventory is below COVID levels, leading to strong pricing and gains for carriers. Discover how OEMs coordinate new truck orders with remarketing strategies, and what this means for fleet balance sheets and maintenance cycles in the current supply chain landscape. […] The post Used…

freightwaves.com ·

Used Truck Market: Why Supply & Pricing are So Strong Now

The used truck market is currently thriving as sleeper inventory has fallen to levels not seen since the pandemic. Daimler Trucks Remarketing President Chris Backeberg attributes this to carriers retaining trucks for longer periods during an extended freight downturn and the industry's failure to overproduce during the post-COVID recovery.

This has prevented historic oversupply issues that typically impact used truck values. While inventory did build in 2023 and 2024, it has cleared quickly. Backeberg notes that pre-COVID, Daimler had nearly 10,000 units in inventory priced under $10,000, but day cab pricing has strengthened significantly. The customer base has shifted, with small fleets operating fewer than 50 trucks now making up a majority of buyers.

Residuals have also risen, with Daimler adjusting its models to avoid a repeat of past losses. Maintaining aging trucks becomes costlier around the 4 to 4.5-year mark, prompting fleets to consider replacements. Despite a recent rise in new truck orders, Backeberg cautions that this will not lead to a significant increase in used truck supply in the near term, especially while prices remain high.

Written by urgent.news from FreightWaves's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

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More in Business

Is the 93% cut in CEO's annual salary an optical illusion due to strengthened disclosure of executive compensation? 국내 상장사들이 올해부터 강화된 '임원 보수 공시' 기준을 적용 받으면서, 일부 기업의 경우 최고경영자(CEO)의 연봉이 실제보다 적은 것처럼 보이는 '착시효과'가 나타나고 있다. From this year, domestic listed companies are subject to strengthened 'executive compensation disclosure' standards, and in some cases, it appears that the CEO's annual salary is lower than it actually is, creating an optical illusion. 금융감독원 전자공시시스템을 보면, 삼성전자는 지난해 이재용 회장의 급여 총액이 25억 8000만 원으로 전년(35억 7000만 원)보다 27.7% 감소했다고 공시했다. According to the Financial Supervisory Commission's electronic disclosure system, Samsung Electronics disclosed that the total compensation of Chairman Lee Jae-yong last year was 2.58 billion KRW, down 27.7% from the previous year (3.57 billion KRW). 그러나 실제 이 회장의 연봉은 2021년 35억 7000만 원에서 1년 만에 93% 가까이 줄어든 2억 5000만 원 수준은 아니다. However, the actual annual salary of Chairman Lee is not 2.5 billion KRW, which is a 93% decrease from 3.57 billion KRW in 2021. 이는 강화된 공시 기준에 따라 '급여' 항목에는 기본 급여와 상여, 기타 근로소득은 물론, 전년도 말 기준 삼성전자 주식 1.4%의 가치 변동분(스톡옵션)도 포함됐기 때문이다. This is because according to the strengthened disclosure standards, the 'compensation' item includes not only the basic salary, bonuses, and other employment income but also the change in the value of 1.4% of Samsung Electronics' stock as of the end of the previous year (stock options). 삼성전자 측은 "공시된 25억 8000만 원은 회계기준 변경에 따라 산출된 값"이라며 "실제 이 회장의 연봉은 35억 원대"라고 설명했다. A Samsung Electronics official said, "The disclosed 2.58 billion KRW is a value calculated according to the changed accounting standards," and added, "The actual annual salary of Chairman Lee is around 3.5 billion KRW." 재계에서는 "일부 기업의 경우 CEO의 연봉이 실제보다 적은 것처럼 보이게 돼 투자자들의 오판 가능성을 우려한다"며 "회계 투명성 강화 취지는 공감하지만, 투자자 보호와 기업 경영진의 과도한 급여 감소를 피해야 한다"고 지적했다. In the business community, there are concerns that the annual salary of CEOs may appear lower than it actually is for some companies, leading to the possibility of misjudgment by investors. While they agree with the purpose of strengthening accounting transparency, they point out that it is necessary to protect investors and prevent excessive salary cuts for corporate executives.

·hani.co.kr

What are the results of high-paying CEOs? In Korea, it is only considered over 3 years, but in the US and UK, it is considered over 5-10 years. 국내 상장사 10곳 중 7곳의 최고경영자(CEO) 성과가 3년 이상 장기적으로 평가되지 않는 것으로 나타났다. Of the listed companies in Korea, 7 out of 10 companies do not evaluate their CEOs' performances over a long-term period of 3 years or more. 21일 기업평가사이트 CEO스코어(대표 김승훈)가 국내 500대 상장사 CEO 496명의 성과 평가 기간을 조사한 결과, 3년 미만으로 평가하는 곳이 68.1%(338명)에 달했다. On the 21st, CEO Score, a corporate evaluation site, surveyed the performance evaluation periods of 496 CEOs of the top 500 listed companies in Korea and found that 68.1% (338 people) evaluate their performances in less than 3 years. 1년 만으로 평가하는 곳도 18.1%(90명)였다. 18.1% (90 people) of the companies evaluate their CEOs' performances in just one year. 3년은 49.6%(246명), 5년은 21.2%(105명), 10년은 9.7%(48명)였다. 49.6% (246 people) evaluate their performances over 3 years, 21.2% (105 people) over 5 years, and 9.7% (48 people) over 10 years. 미국과 영국 등 선진국은 5년에서 10년 단위로 CEO 성과를 평가하는 곳이 많다. In developed countries such as the US and UK, many evaluate their CEOs' performances over a period of 5 to 10 years. 2019년 5월 미국 경영자협회(ASA)가 발표한 ‘CEO 평가 가이드’에 따르면, 52%의 기업이 3년, 24%가 5년, 16%가 3년 이상으로 평가 기간을 설정하고 있다. According to the "CEO Evaluation Guide" published by the American Management Association (ASA) in May 2019, 52% of companies set their evaluation period at 3 years, 24% at 5 years, and 16% at more than 3 years. 영국은 상황이 더하다. The situation is even more extreme in the UK. 지난해 7월 영국 상장사 350곳의 의결권 자문사인 인스티튜셔널 쉐어홀더 서비스(ISS)가 조사한 결과, 10곳 중 8곳이 5년 이상의 장기 성과 측정 지표를 평가하고 있다. In July last year, Institutional Shareholder Services (ISS), a voting rights advisory firm for 350 listed companies in the UK, found that 8 out of 10 companies evaluate long-term performance measurement indicators of more than 5 years. ISS는 보고서에서 “장기 성과 지표는 CEO가 단기 성과에만 집중하지 않고 지속가능경영을 추구하도록 돕는다”며 “장기 성과 지표는 주주총회에서 경영진의 성과 평가에 사용된다”고 설명했다. In the report, ISS stated that "Long-term performance indicators help CEOs focus on sustainable management rather than short-term performance, and are used to evaluate management performance at general meetings of shareholders." 한국 기업들도 이 같은 장기 성과 평가 제도를 도입해야 한다는 목소리가 높다. There is a high demand for Korean companies to adopt such a long-term performance evaluation system. 기업 지배구조 전문가인 정구현 서울대 경영학과 교수는 “한국은 주주가 단기간에 주식을 매도하는 비율이 높은 만큼, 경영진이 장기 성과에 집중할 수 있는 경영 환경을 만들어줘야 한다”고 말했다. Prof. Chung Koo-hyun, an expert on corporate governance and a professor at Seoul National University's business school, said, "In Korea, shareholders sell their stocks over a short period of time, so we need to create a management environment where management can focus on long-term performance." 그러면서 “이를 위해 이사회가 CEO 성과 평가에 적극적으로 나서야 한다”고 덧붙였다. He added, "To achieve this, the board of directors should take an active role in evaluating the CEO's performance."

·hani.co.kr

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