Third Quarter Starts Out Strong for Commercial Trucks, J.D. Power Finds
MCLEAN, Va.--(BUSINESS WIRE)--Price appreciation is widespread and most segments of the used truck market, especially medium duty trucks, are performing very well, according to analysts from J.D. Power Valuation Services, as reported in the July 2021 Commercial Truck Guidelines Industry Update.
“We have yet to see the increased volume of fleet trades at auction that we have expected,” said Chris Visser, commercial truck senior analyst at J.D. Power Valuation Services. “Aged and well-used trucks as well as daycabs are showing up in greater numbers, which is what we would expect to see in the very early stages of a return to a normal trade cycle. As long as new truck availability remains constrained and freight rates keep truckers energized, used truck pricing is on solid footing.”
Major findings in the free monthly report note:
- Class 8 auction pricing still in the stratosphere
- More high-mileage, rough-condition trucks starting to appear
- Class 8 retail pricing up setting records
- Overall value of the sleeper market is highest since at least 2007
- Medium duty trucks were strong across the board
J.D. Power Valuation Services (formerly NADA Used Car Guide) is a leading provider of vehicle valuation products and services to businesses. The team collects and analyzes more than 1 million automotive and truck wholesale and retail transactions per month, and delivers a range of guidebooks, auction data, analysis and data solutions.