Truck prices have seen a significant drop recently, with three-year-old trucks losing an average of $10,000 in May alone. A truck worth $140,000 about a year ago is now valued at only $77,000. This has caused those who financed these trucks with no down payment at a 6% interest rate to be $33,000 in debt above the value of their trucks.
Yikes! 3 year old truck prices fall another $10,000 on average in May. A $140,000 truck 14 months ago, is now worth $77,000. Almost half its value. Meaning all those loans that were taken out with $0 down 6% interest on a $140,000 Semi are now $33,000 underwater. Time to buy? pic.twitter.com/UDXZmPPHoX
Nikola Corporation, once valued at $30 billion and hailed as the future of EV trucking, has filed for Chapter 11 bankruptcy. The company’s stock plummeted 40% today, marking a staggering 99% decline from its 2020 peak of $1,977 per share to just $0.45.
CtrlChain carriers cut admin time by 95%, process paperwork 80% faster, and get paid 4x quicker. See what’s new in 2024—and what’s coming next in 2025!
North Carolina upgrades weigh stations with $5.8M tech boost. New systems include weigh-in-motion and license plate readers for improved safety and efficiency.
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