MCLEAN, Va., June 15, 2017 /PRNewswire/ -- Commercial truck analysts at J.D. Power Valuation Services note in their June 2017 Commercial Truck Guidelines Industry Update that May's Class 8 wholesale auction results were unexpectedly weak, with volume and pricing notably lower than April.
Major findings in the free monthly report point out:
- Auction market contracted in May.
- Volume and pricing off compared to first quarter and April.
- Seasonality does not completely explain the pullback.
- Economic conditions haven't changed and there are other factors still to be discovered.
- Medium duty market remains stable.
- Strength of market is concentrated in newer, lower mileage units.
When asked about what May's Class 8 auction results mean for the used commercial truck market, Chris Visser, senior commercial truck analyst at J.D. Power Valuation Services said, "The month's figures are disappointing and the incoming retail data is moderately concerning. However, the first four months of the year are encouraging, and we have not identified a shift in market conditions. We still define the Class 8 environment as incrementally improving."
J.D. Power Valuation Services
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 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.
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SOURCE J.D. Power