McLEAN, Va., July 23, 2019 /PRNewswire/ -- In the July 2019 Commercial Truck Guidelines Industry Update, analysts from J.D. Power Valuation Services reported that after more than two years of expansion, it appears the nation may have finally reached and then exceeded the total number of trucks needed to move freight. As is typical in this type of environment, only the lowest-mileage trucks are currently bringing strong money.
"With the macroeconomy no longer in full-on expansion mode, fleets appear to have the trucks they need to move available freight, therefore these companies are most likely no longer looking to expand," said Chris Visser, Commercial Truck Senior Analyst at J.D. Power Valuation Services. "This shift was predicted, although some of us were surprised at how dramatically the economy accelerated in 2017 and 2018, and we are therefore early in our prediction of higher used truck supply. It appears we have reached a tipping point."
Major findings in the free monthly report note:
- Class 8 Auction Pricing Lower in June
- No longer a shortage of low-mileage trucks
- Retail Channel Still Holding Relatively Steady
- Retail market dynamics have not yet caught up to auction
- Medium Duty Pricing and Volume Stable to Downwards in June
- Class 4s are showing strength
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