MCLEAN, Va., Aug. 19, 2019 /PRNewswire/ -- In the August 2019 Commercial Truck Guidelines Industry Update, analysts from J.D. Power Valuation Services reported that as auction volume pulled back in July and pricing was mixed, there was a resurgence of interest in newer trucks, perhaps as a result of lower values. For the most part, dollars continue to flow only to the newest, lowest-mileage trucks.
"July's results are promising because they suggest lower pricing may be keeping buyers in the market," said Chris Visser, Commercial Truck Senior Analyst at J.D. Power Valuation Services. "There is certainly a higher level of inventory on dealers' lots than this time last year and the freight environment is cooler, but consumers continue to buy goods, which is mitigating the more negative dynamics in the trucking economy."
Major findings in the free monthly report note:
- Mile Resurgence of Interest in Auction Lanes in July
- Newer trucks brought more money month-over-month
- Retail Depreciation Remains Mild
- Lower pricing may be keeping buyers in the market
- Positive Month for Medium Duty
- Class 6 conventionals rebounded dramatically
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