(I) Divergent Price Trends
According to the commercial vehicle market update released by J.D. Power in February 2026, price trends for semi-trailer-related commercial vehicles showed significant divergence in early 2026: retail prices rose by 7.1% year-over-year and 1.7% month-over-month; wholesale prices increased by 13.0% year-over-year but fell by 3.6% month-over-month; and auction prices rose by 4.4% year-over-year and 6.5% month-over-month. Overall, market prices maintained a steady recovery trajectory. Notably, the average retail price of semi-trailer tractors aged 3–5 years showed a steady upward trend, while auction prices for older semi-trailers saw significant increases, reflecting rising market demand for high-quality used semi-trailers and associated equipment.
(II) Continued Market Demand Recovery Driven by Fleet Replacement
The domestic heavy-duty truck market has experienced a strong recovery over the past six months; sales volume reached 1.145 million units in 2025 (a 27% year-over-year increase) and approximately 180,000 units in January–February 2026, maintaining a growth trend that has simultaneously boosted demand for semi-trailers. Driven by policies encouraging the scrapping and renewal of aging vehicles, there has been a concentrated release of demand for replacing existing semi-trailer fleets. Logistics companies and individual owner-operators are accelerating the phase-out of older, non-compliant semi-trailers in favor of models meeting “National VI” emission standards or new energy vehicles, thereby driving the continuous optimization of the semi-trailer market structure. Meanwhile, steady progress in domestic infrastructure projects has fueled robust demand for the transport of aggregates and construction materials. Consequently, demand for specialized models—such as flatbed and dump semi-trailers—has remained high; flatbed semi-trailers, in particular, have become the preferred choice for short-haul distribution and cross-border short-distance transport due to their versatility across diverse cargo scenarios.
