Commercial Truck Industry Starts 2021 Strong
MCLEAN, Va.–(BUSINESS WIRE)–In the February 2021 Commercial Truck Guidelines Industry Update, analysts from J.D. Power Valuation Services reported that 2021 pricing started out healthy, as expected, with Class 8 auction results particularly strong and medium duty solid as well.
“Most buyers and sellers say the sleeper market currently feels strong, but interestingly, the market is actually only at about the average of the post-Great Recession trend,” said Chris Visser, commercial truck senior analyst at J.D. Power Valuation Services. “We live and die by the market we are currently in, and conditions should remain favorable into the second quarter.”
Major findings in the free monthly report note:
- The few auctions in January saw high pricing
- Retail channel started the year strong in pricing and volume
- Class 4 cabovers saw healthy pricing, conventionals were firm to upward
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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