First Quarter Commercial Truck Pricing Strong Across-the-Board, J.D. Power Finds
MCLEAN, Va.–(BUSINESS WIRE)–In the March 2021 Commercial Truck Guidelines Industry Update, analysts from J.D. Power Valuation Services reported that most segments of the medium and heavy duty used truck market continue to benefit from the strong freight environment and tight availability of new trucks.
“The first quarter of 2021 was a strong one for the industry as a healthy freight market, subdued volume of trade-ins and tougher availability of new trucks, have combined to push Class 8 pricing upward,” said Chris Visser, commercial truck senior analyst at J.D. Power Valuation Services. “Looking ahead, pricing conditions could relax a bit once consumer spending shifts a bit from goods to services. It will be interesting to see how long the new truck parts shortage lasts, but in the meantime, everyone should be making hay while the sun shines.”
Major findings in the free monthly report note:
- Auction pricing trending closer to retail as end users compete for trucks
- Retail volume pulled back somewhat, but pricing remains firm
- Medium duty stable to upward; cabovers looking particularly strong
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.
About J.D. Power
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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