Like everything else, costs continue to rise. The costs of component parts are so high it has created problems when quoting a good price. This is proving difficult for companies to make money on the equipment but provide a cost that customers can handle.
The Business Insider also indicated that the shortage has made semi-trucks increasingly valuable. They stated, “In August (2021), J. D. Power reported that Class 8 truck sales prices climbed over 86% compared to the first seven months of the previous year. And prices are expected to continue to rise in 2022.”
The fact that this problem is only getting worse doesn’t bode well for the freight market. A truck you could have purchased for about $40,000 a year ago will cost every bit of $60,000 today. Yikes!