Class 8 Market Finished 2020 Strong
MCLEAN, Va.–(BUSINESS WIRE)–In the January 2021 Commercial Truck Guidelines Industry Update, analysts from J.D. Power Valuation Services reported that all channels of the Class 8 market closed out 2020 on a high note. Medium duty truck pricing fluctuated throughout 2020, but ended the year showing mild depreciation.
“In December, pricing in all channels was encouraging,” said Chris Visser, commercial truck senior analyst at J.D. Power Valuation Services. “Conditions in the first half of 2021 should feel similar to late 2020, as long as there are no major events impacting the economy.”
Major findings in the free monthly report note:
Volume was up and pricing was slightly higher at auctions in December
- Second half of 2020 pricing was 23.9% above second half of 2019
Retail volume was up, and pricing was stable in December
- Depreciation remained close to zero in second half of 2020
Medium duty segments were mixed
- Cabovers continue to hold up well
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. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world’s leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.
J.D. Power is headquartered in Troy, Mich., and has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The J.D. Power auto shopping tool can be found at JDPower.com.
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