MCLEAN, Va., March 12, 2018 /PRNewswire/ -- In their most recent monthly used commercial truck report, analysts from J.D. Power Valuation Services found the used commercial truck market operated as expected during the month of February.
According to Chris Visser, commercial truck executive analyst at J.D. Power's Valuation Services, "February data showed a used truck market operating as expected. Supply continues to dictate pricing, but demand should be mildly improving. Medium duty trucks continue to recover."
Major findings in the free monthly report note:
- Volume was up at February auctions
- Newer trucks showed up in greater numbers
- The retail channel appears to have held up despite higher volume
- Supply is expected to increase in early spring
- Medium duty trucks are close to rebound status
- The used market is positive compared to the same period of 2017
The report notes that year-over-year, trucks 4 – 6 years old sold in the first two months of 2018 brought 21.7 percent more money than the same period in 2017. Analysis from the report also points out that while the year-over-year gains are encouraging, returning supply of late-model trucks throughout the year should keep depreciation near a 2 percent estimate.
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