MCLEAN, Va., May 21, 2018 /PRNewswire/ -- In their most recent May 2018 Commercial Truck Guidelines Industry Update, analysts from J.D. Power Valuation Services found the volume of Class 8 trades was lower than forecasted, which resulted in more stable prices.
According to Chris Visser, commercial truck executive analyst at J.D. Power's Valuation Services, "To put it all in context, year-over-year, 4-year-old to 6-year-old trucks sold in the first four months of the year brought 20 percent more money than the same period in 2017."
Visser went on to say, "While demand clearly has picked up, we still forecast the supply of used trucks to increase noticeably as the second quarter unfolds. Demand has improved quite a bit in recent months, which will keep average depreciation at around the 2 percent level by year's end."
Major findings in the free monthly report note:
- Predicted influx of trades has not yet hit the market
- Stronger demand keeping depreciation to a minimum
- Dealerships reporting better traffic
- Red-hot freight market helping to move iron
- Medium Duty segments mixed
- Cabovers recover from a late-winter weakness
About J.D. Power
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 is headquartered in Costa Mesa, Calif., and has offices serving North/South America, Asia Pacific and Europe. J.D. Power is a portfolio company of XIO Group, a global alternative investments firm headquartered in London, and is led by its four founders; Athene Li, Joseph Pacini, Murphy Qiao and Carsten Geyer.
J.D. Power recently acquired NADA Used Car Guide (now J.D. Power Valuation Services), which 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 Valuation Services
SOURCE J.D. Power