No Letup in Commercial Truck Prices, J.D. Power Finds
MCLEAN, Va.--(BUSINESS WIRE)--Nov 22, 2021--
After October’s strong month for pricing in all commercial truck segments, incoming November data suggests pricing will still increase, according to analysts from J.D. Power Valuation Services, as reported in the November 2021 Commercial Truck Guidelines Industry Update.
“Similar to last month, shipping backlogs and parts shortages continue to be as critical as ever, instead of improving as we had predicted earlier this year,” said Chris Visser, commercial truck senior analyst at J.D. Power ValuationServices. “This factor, combined with superheated consumer spending are keeping used truck pricing in the stratosphere.”
Major findings in the free monthly report note:
- All segments of the used truck market saw higher pricing in October
- Year-over-year, Class 8 sleeper pricing is almost 90% higher at auction, 34% retail
- Medium duty conventionals particularly strong this month
- Record-breaking used truck pricing essentially guaranteed into 2022
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. 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.
About J.D. Power and Advertising/Promotional Rules:www.jdpower.com/business/about-us/press-release-info
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KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA
INDUSTRY KEYWORD: TRUCKING AUTOMOTIVE OTHER AUTOMOTIVE GENERAL AUTOMOTIVE TECHNOLOGY TRANSPORT FLEET MANAGEMENT
SOURCE: J.D. Power
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PUB: 11/22/2021 09:00 AM/DISC: 11/22/2021 09:02 AM