Auction Market Firms Up, Retail Market Plays Catch-Up
MCLEAN, Va.--(BUSINESS WIRE)--Nov 25, 2019--
In the November 2019 Commercial Truck Guidelines Industry Update, analysts from J.D. Power Valuation Services reported that despite the steady rate of depreciation in the auction channel, trucks continued to lose value in the retail channel. The medium-duty truck market experienced sales of older, higher-mileage trucks, which has impacted average pricing.
“Economists agree that the economy is negatively impacted to some degree by the uncertainty and inefficiency attributable to the tariff war. U.S. trade officials continue to comment optimistically about the progress of trade talks, but concrete action after a year and a half has been moderate at best,” said Chris Visser, Commercial Truck Senior Analyst at J.D. Power ValuationServices. “The Presidential election of 2020 will further increase uncertainty and trepidation on the part of investors, and the demand outlook for used trucks continues to face headwinds.”
Major findings in the free monthly report note:
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.
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, J.D. Power has offices serving North America, South America, Asia Pacific and Europe.
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SOURCE: J.D. Power
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PUB: 11/25/2019 09:00 AM/DISC: 11/25/2019 09:00 AM