Used Truck Industry Rocks and Rolls for another Month, J.D. Power Finds
MCLEAN, Va.--(BUSINESS WIRE)--Class 8 auction pricing remains sky-high with retail pricing increasing and medium duty had another great month, according to analysts from J.D. Power Valuation Services, as reported in the May 2021 Commercial Truck Guidelines Industry Update. Class 8 auction pricing was the standout, particularly for the newest trucks available. Retail pricing stayed firm, while medium duty trucks had a great month, especially in lighter-GVW segments.
“This seller’s market will stick around for another couple of months”
“This seller’s market will stick around for another couple of months,” said Chris Visser, commercial truck senior analyst at J.D. Power Valuation Services. “The used truck market shifts more rapidly and drastically than the general macroeconomy, and in the third quarter we’ll start to watch for an uptick in off-lease units.”
Major findings in the free monthly report note:
- Pricing was higher in all segments of the medium and heavy duty truck market
- Class 8 auction pricing is in the stratosphere, 76.6% higher year-over-year
- Class 8 retail pricing is at or near historical highs
- Medium duty segments are showing very strong year-over-year comparisons
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.
About J.D. Power
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.
J.D. Power is headquartered in Troy, Mich., and has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The J.D. Power auto shopping tool can be found at JDPower.com.