The auction market for used commercial vehicles is about to get tested.
Financial services firm Tiger Group on Feb. 19 will conduct an online auction of used trucks and trailers as part of a court-approved bankruptcy sale, the company announced in a Feb. 12 release.
The auction will feature more than 70 vehicles made by companies such as International, Peterbilt, Freightliner, Paccar, Kenworth, Daimler, Great Dane and Hyundai. Most of the vehicles range from 2021 to 2024 model years, according to the release. The live webcast auction will begin at 2 p.m. ET via SoldTiger.com.
The sale comes as auction values for used heavy-duty and medium-duty trucks are down 7% year over year and 6.6% YoY, respectively, according to Sandhills Global.
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