Used Commercial Truck Pricing Remains Superheated, J.D. Power Finds
MCLEAN, Va.--(BUSINESS WIRE)--The Class 8 auction market is hotter than ever and retail selling prices continue to break records, according to analysts from J.D. Power Valuation Services, as reported in the August 2021 Commercial Truck Guidelines Industry Update. Medium duty selling prices have relaxed after last month’s strong results, but trucks are still appreciating.
“Supply is usually the overarching factor in used truck pricing and as of this release, the microchip crisis and rolling shortages of other assorted parts show no signs of alleviating to any great extent,” said Chris Visser, commercial truck senior analyst at J.D. Power Valuation Services. “This means new truck availability will remain constrained, limiting supply of trades. This situation has lasted longer than we predicted and at this point, we are not sure there will be much improvement through the end of the year.”
Major findings in the free monthly report note:
- Class 8 auction and retail pricing continues to break records
- Sellers have the upper hand as supply remains tight
- Volume pulled back in July due to supply, not demand
- Medium duty truck pricing relaxed a bit but market is still hot