The secondary road transport market has remained stable in the fourth quarter throughout the country. Trucks and trailers presented at auction have achieved strong results due to the lack of stock and substantial lead times to purchase new trucks and trailers.
The Sydney market has seen some strong results over the past quarter, including a 2011 Kenworth K200 Prime Mover with 446,000kms selling for $110,000 which represents 95% of retail value and a number of 2015 to 2018 Isuzu commercial trucks achieving between 95% – 100% of retail value. Similar results can be seen in the Queensland market, a 2019 Western Star 4964 Prime Mover showing 126,737 kms selling for $286,000, achieving 100% of retail value and a 2018 Kenworth T409 Prime Mover with 270,315kms selling for $195,000, achieving 90% of retail value.
Older trucks have been selling well in the fourth quarter, with a 2015 Kenworth T909 showing 931,378 kms selling for $145,000 and achieving 95% of retail value. Prime Movers in the Victorian market have seen a slight improvement in the fourth quarter, with only good quality and late model stock being sought after. This was highlighted in the sale of a 2018 Mack Granite for $40,700, representing 80% of retail value.
Lead times for some trailers are extending out to three months in some circumstances causing secondary market prices for these assets to remain strong during the fourth quarter. This has been highlighted in the Victorian sales of a 2006 Vawdrey Drop Deck Curtainsider with a rear Mezzanine Deck selling for $45,300, achieving 100% of retail value and 4 x 2018 Cartwright OD Refrigerated Trailers selling for 100% of retail value. Low loaders, curtainsiders, pantechs and refrigerated pantechs have been greatly sought after in the Queensland market, as highlighted in the sale of a 2013 Drake Quad Axle Low Loader which sold for $220,000, achieving 90% of retail value and a 2012 J. Smith & Sons Low Loader selling for $82,000, achieving 100% of retail. Skel trailers have been the exception, with these assets struggling to sell due to the reduced activity at ports around the country.