With the new and used trailer market at record highs, you might be wondering if now is the right time to buy a trailer. To help inform your decision, we’re sharing our perspective on the current market and future outlook guided by our industry expertise.
1. The imbalance of supply and demand in the trailer market is not likely to clear in 2022. Most, if not all trailer dealers are already sold out of purchase orders for new trailers in 2022. Many cite supply chain issues as a limiting factor in their production potential. With the supply of new trailers limited, the price of used trailers is likely to remain at or above current levels.
2. As supply chain bottlenecks clear throughout 2022, we anticipate a slow retreat in new and used trailer prices in 2023. Inflationary pressure, combined with the likely increase in financing costs, will ultimately keep the expense of purchasing a new or used trailer above pre-Covid levels.
3. Even in the event of additional Covid 19 economic restrictions, demand should stay strong. As experienced during the lockdowns of 2020, government restrictions create additional demand from e-commerce businesses to move goods via trailers.
Overall, if you can afford to wait until 2023 to purchase a new or used trailer, you are likely to find better market prices, but there is a risk that inflation and increased financing costs limit your overall savings. With new and used trailers continuing to break through record price levels, now is a good time to secure the trailers needed to meet your 2022 demand. If you can find a trailer in the extremely sparse market, we recommend you act fast and buy it.
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