Used Commercial Truck Pricing Remains Superheated, J.D. Power Finds
MCLEAN, Va.--(BUSINESS WIRE)--Aug 18, 2021--
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 ValuationServices. “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
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 has offices in North America, Europe and Asia Pacific.
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Geno Effler; Costa Mesa, Calif.; 714-621-6224;firstname.lastname@example.org
KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA
INDUSTRY KEYWORD: AFTERMARKET MARKETING AUTOMOTIVE COMMUNICATIONS TRUCKING GENERAL AUTOMOTIVE TRANSPORT OFF-ROAD TRUCKS & SUVS
SOURCE: J.D. Power
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PUB: 08/18/2021 09:00 AM/DISC: 08/18/2021 09:02 AM