MCLEAN, Va., May 23, 2017 /PRNewswire/ -- Commercial truck analysts at J.D. Power Valuation Services note in their May 2017 Commercial Truck Guidelines Industry Update that pricing of used commercial vehicles began to level out despite higher volume during April 2017.
Major findings in the free monthly report also point out:
- The used commercial truck retail channel is still showing typical depreciation.
- Pricing should level out in the upcoming months.
- Class 8 auction pricing has leveled out despite higher volume.
- The average selling prices of late-model trucks are actually trending upward.
- Medium duty segments are generally holding up well. Cabovers and lighter GVW conventional trucks are performing the best.
When asked about what flattening prices mean for the used commercial truck market, Chris Visser, senior commercial truck analyst at J.D. Power Valuation Services said, "This trend suggests the market is finding a bottom. Retail pricing still shows depreciation on par with late 2016, but we expect that channel to moderate as well."
So what does this mean for the next few months? Visser went on to say, "Overall sentiment about the trucking economy is improving. It is possible we are finally seeing a degree of increased demand for used trucks. Values will continue to be impacted by returning supply, but evidence is building that pricing has found its floor."
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J.D. Power Valuation Services (formerly NADA Used Car Guide) is a leading provider of vehicle valuation products, services and information to businesses. Its team collects and analyzes over 1 million combined automotive and truck wholesale and retail transactions per month, and delivers a range of guidebooks, auction data, analysis, and data solutions. J.D. Power acquired NADA Used Car Guide in 2015, forming a powerful combination that brings the automotive industry rich data sets, strong analytics and over 130 years of market experience. Residual Values is the first product to be launched by J.D. Power Valuation Services. Learn More: www.jdpower.com/about-us/press-release-info
SOURCE J.D. Power