Ryder’s used vehicle sales in Q1 fell 10% year over year to 5,100 to 4,600, but climbed 27.8% or 1,000 vehicles compared to Q4 2025. (Coopersburg and Liberty Kenworth)
key takeaways:
- Used truck market conditions improved in the second quarter and are expected to strengthen further in the second half of 2026.
- Pricing gains and rising freight rates are supporting a broader improvement in used vehicle sales and market sentiment.
- Upcoming engine emissions regulations are expected to boost used truck demand by increasing the cost of new equipment.
Used-truck market conditions have improved in the second quarter of 2026 and the latter half of the year looks set to bounce back even more, according to rider system CEO John Diaz.
“We see market conditions continuing to improve,” Diaz told attendees at the Wells Fargo Industrials & Materials Conference on June 10, after an early surprise increase in the first three months of 2026.
“The momentum we’re seeing in used vehicle sales right now is driving upward pricing momentum, which should bode well for the second half of the year,” he said.
Improvements in the used truck and leasing markets are typically preceded by an increase in new truck sales.
The increase in used truck sales is reflecting increases in spot and contract market rates.
“Used truck pricing has historically tracked freight rate momentum, at least directly, and both metrics began to turn positive in the fourth quarter of last year and the momentum increased during the first quarter.” Chris Visser, J.D. Power Director of Special VehiclesWrote in a report released on May 18.
“Continued rate improvements, healthy retail sales and stable pricing collectively indicate that the used truck market is back in positive territory despite ongoing risks from tariff volatility, fuel cost pressures and policy uncertainty,” Visser said.
In April, according to ACT ResearchThe average Class 8 retail selling price increased 1.9% year over year from $58,025 to $59,122 and was up 4.2% compared to March’s average of $56,749.
ACT said used Class 8 sales rose 5.5% to 24,900 units in April, from 23,600 a year earlier, but were unchanged from March.
Better-than-expected used vehicle sales boosted Ryder’s earnings in the first quarter of 2026 and encouraged the company enough to raise its guidance for full-year 2026.
The company said on April 23 that Ryder’s used vehicle sales in Q1 declined 10% year over year to 5,100 to 4,600, but increased 27.8% or 1,000 vehicles compared to the fourth quarter of 2025.
Historically known for its used vehicle sales and leasing operations, Ryder is ranked 6th on Transportation Topics’ Top 100 list of the largest rental carriers in North America.
Ryder Dedicated Transportation Solutions ranks 5th among truckload/dedicated carriers. One of the company’s initiatives over the years has been to significantly boost the company’s dedicated operations as it has sought to lock in a stable and high return on equity.
Used sales are set to trend even higher as 2026 progresses, in parallel with the ongoing rebound in the freight market and as a result of regulation changes for engines.
Truck and tractor prices are set to rise with the introduction of engines that meet Environmental Protection Agency 2027 nitrogen oxide-emissions rules.
The EPA is set to implement a Biden-era requirement that NOx emissions for heavy-duty trucks be reduced from 200 mg/hp-hour to 35 mg/hp-hour.
“If you’re a fleet operator, you’re trying to make a decision: ‘Do I buy old equipment, or do I buy new equipment?’ You have to pay a lot more for that new equipment and used equipment,” Diez said.
The executive said changes in emissions regulation are generally positive for the used vehicle market, driving demand as lease customers in particular look to beat the congestion.
Although pre-buy expectations are being dashed, Diaz said, used sales will surge.
Pre-buy is a colloquialism for fleets purchasing new trucks before stricter EPA tailpipe regulations go into effect.
“From a used vehicle perspective, we expect engine technology to change as you move into the year,” Ryder’s top executive told analysts and investors.
