MCLEAN, Va., Nov. 16, 2016 /PRNewswire/ -- According to analysts at NADA Used Car Guide, the used commercial truck market is showing signs of weakness as real world prices are recorded the first month of the fourth quarter. Analysis in the November NADA Used Car Guide Guidelines report notes a slowdown in auction and retail activity coupled with lower prices.
How Auction Prices Were Impacted
According to Chris Visser, senior commercial truck analyst at NADA Used Car Guide, "If we look at the year-to-date trend, depreciation in the auction lanes remains moderate."
Analysis in the free monthly report points out the moderate depreciation Visser mentions. It notes that since January:
- 2013MY (model year) trucks have lost about 22 percent of their value
- 2012MY trucks have lost about 31 percent of their value
- 2011MY trucks have lost about 26 percent of their value
The figures translate to an overall monthly loss of about 2.6 percent, which is substantially better than the nearly 5 percent average monthly loss in the second half of 2015.
Visser explained the overall monthly loss of 2.6 percent by stating, "Of course, trucks sold this time last year were bringing over 35 percent more money than they are now."
Where is the Used Commercial Truck Market Headed?
A closing forecast in the report notes that based on October's auction results, NADA Used Car Guide analysts expect incoming October wholesale data to show a mild to moderate dip in pricing. Retail pricing generally lags wholesale by a few months. As a result, analysts expect to see downward pressure in the retail channel. Depreciation in calendar year 2016 may end up averaging 3 percent per month by the end of the year, but most likely not more.
About NADA Used Car Guide®
Since 1933, NADA Used Car Guide® has earned its reputation as the leading provider of vehicle values. NADA Used Car Guide® and its logo are registered trademarks of National Automobile Dealers Association, used under license by J.D. Power.
Sr. Manager, Public Relations
NADA Used Car Guide®, a division of J.D. Power
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SOURCE NADA Used Car Guide