If you’ve been waiting for the perfect time to upgrade your fleet or buy a new Kenworth or Peterbilt, you might want to rethink your timeline. PACCAR Inc., the powerhouse behind these two legendary brands, has made it clear—truck prices are set to increase as early as mid-2025, and that’s just the beginning.
So, why the sudden price hike? Market trends, demand recovery, and new emissions regulations for 2027 models are all contributing to a shift in pricing power back to manufacturers.
If you think waiting will get you a better deal, you may be in for a surprise. Here’s everything you need to know about the changing landscape of Class 8 truck pricing and why acting now could save you a fortune.
Why Are Prices Going Up? 
PACCAR recently released its Q4 2024 earnings report, and while deliveries were down, there’s a bigger picture emerging that signals higher prices on the horizon.
43,900 trucks delivered worldwide—a 14% decrease from Q4 2023
22,300 trucks sold in the U.S. and Canada—down from 28,100 in late 2023
Revenue per truck dropped nearly 5% year-over-year
Total Class 8 trucks sold in 2024: 268,000, compared to 297,000 in 2023
At first glance, these numbers might make it seem like the trucking market is slowing down. But CEO Preston Feight has a different take—one that truck buyers need to pay close attention to.
“We see … improvement coming throughout the year. We think for sure in the second half, maybe it’s in the second quarter,” Feight said during PACCAR’s January 28 earnings call. “We’ll have to watch how the world develops, of course, but it feels like a positive trend.”
Translation? The trucking industry is shifting gears, and when demand climbs, so do prices.
What’s Driving the Demand?
Carriers are buying again – Many large truckload carriers held off on purchasing new trucks in 2024 due to economic uncertainty, but they’re now re-entering the market.
LTL and vocational trucking remain strong – Less-than-truckload (LTL) carriers and construction-related fleets never stopped investing in new trucks, keeping demand steady.
Manufacturers are regaining pricing power – After offering deep discounts over the past year, PACCAR and other truck makers are now shifting their strategy. With demand rising, discounts are disappearing.
These factors are setting the stage for a major price shift, and fleet owners who don’t plan ahead could find themselves paying a premium for the same truck later this year.
The 2027 Price Shock—$10K to $15K More Per Truck? 
If you think waiting until 2027 to buy your next truck is a smart move, think again.
New federal emissions regulations are coming, and PACCAR has confirmed that trucks meeting these new standards will cost $10,000 to $15,000 more per unit.
Why the increase?
The Environmental Protection Agency (EPA) and California Air Resources Board (CARB) are rolling out stricter emissions regulations aimed at reducing greenhouse gas output. Meeting these standards requires new technology, and those costs will be passed down to buyers.
Who will be affected?
Even if your fleet doesn’t operate in California, these new emissions rules will apply nationwide. Every truck built for the U.S. market will have to comply, meaning higher prices across the board.
What’s the solution?
If you’re considering buying a truck in the next three years, purchasing before 2027 could save you $10K – $15K per unit.
PACCAR’s Massive Investments in the Future 
PACCAR isn’t just talking about price increases—they’re investing heavily in expanding operations, improving technology, and preparing for an evolving industry.
Capital Spending: $700M – $800M in 2025 (same as last year’s $796M), including:
- Expanding the Kenworth plant in Chillicothe, Ohio
- Upgrading PACCAR’s Mexico manufacturing facilities
- Boosting DAF electric truck production in the Netherlands
R&D Investments: $460M – $500M (up from $453M in 2024), focusing on:
- New fuel efficiency technologies
- Hydrogen and electric truck development
- Regulatory compliance for 2027 and beyond
What does this mean for buyers? PACCAR is future-proofing its production to stay ahead of regulatory changes. However, these advancements come at a cost, and those costs will reflect in truck pricing.
What’s Happening on Wall Street? 
While trucking demand is picking up, investors are being cautious.
PACCAR stock (PCAR) dipped 2% after their Q4 earnings report, landing at $107.25.
But shares are still up 8% over the past six months, showing steady long-term growth.
PACCAR’s market cap stands at $56.2 billion, proving they’re still a major industry leader.
Why the stock drop? Investors expected higher delivery numbers, but PACCAR remains confident in long-term growth.
What Should Fleet Owners & Owner-Operators Do?
Act now before prices climb.
Avoid waiting for 2027 models, as they’ll cost significantly more.
Consider bulk purchases if you need multiple trucks, as financing options could tighten.
Lock in contracts with manufacturers before discounts vanish.
If you’ve been debating whether to upgrade your fleet, this might be the best opportunity you’ll get before costs skyrocket.
Truck prices are shifting into high gear—don’t get left behind.
Final Thoughts: Should You Buy Now?
Here’s what we know:
Truck prices are increasing. Manufacturers are regaining pricing power.
Demand is climbing again. More carriers are entering the market.
Emissions regulations will push 2027 prices even higher.
PACCAR is making massive investments in production and technology.
If you’re in the market for a Kenworth or Peterbilt, buying before mid-2025 could save you thousands—and avoid the sticker shock that’s coming in 2027.
So, if you’ve been waiting for a sign—this is it. 
The Bottom Line? Prices Are Going Up, Are You Ready?
You don’t have to be a financial expert to see where this is going. Truck prices aren’t coming down, and the longer you wait, the more you’ll pay.
If you want the best deal on a Kenworth or Peterbilt, now is the time to act. Waiting could cost you thousands.
So, what’s your next move?
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Sources & Further Reading 
PACCAR Official News
Fleet Owner – PACCAR Sees Pricing Power Returning by Summer
Transport Topics – PACCAR Q4 Earnings