MCLEAN, Va., Aug. 15, 2017 /PRNewswire/ -- Commercial truck analysts at J.D. Power Valuation Services note in their August 2017 Commercial Truck Guidelines Industry Update that July's commercial truck wholesale auction market continued to meet analyst expectations and exhibited steady demand.
Major findings in the free monthly report note:
- Class 8 auction dynamics pointed toward solid demand.
- As volume went down, prices went up for the month.
- Retail prices continued to firm.
- Depreciation was slower in 2017 versus 2016.
- Medium duty segments were generally solid.
- Lighter GVW segments exhibited minimal depreciation.
Chris Visser, senior commercial truck analyst at J.D. Power Valuation Services said, "The volume of the most common sleeper tractors sold at auction in July was back down after increasing dramatically in June."
Visser went on to say, "With prices of our benchmark model up 8.1 percent in July, the solid result supports our position that prices are stabilizing."
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