Hot Start to Summer for Used Trucks, J.D. Power Finds
MCLEAN, Va.–(BUSINESS WIRE)–Most segments of the used truck market are performing extremely well, with price appreciation widespread, according to analysts from J.D. Power Valuation Services, as reported in the June 2021 Commercial Truck Guidelines Industry Update. Additionally, after a full year of recovery in the freight markets, late-model sleeper tractors remain in tight supply and pricing continues to impress at auctions.
“We are now more than a full year into the freight market recovery, with no letup in pressure as of this writing in mid-June,” said Chris Visser, commercial truck senior analyst at J.D. Power Valuation Services. “At this point, auction pricing for late-model sleepers is higher than any time in the 6 years we’ve been tracking our benchmark group, and retail pricing is at or above any period in the 12 years following the Great Recession. As the summer progresses, keep an eye on the volume and pricing of off-lease fleet units sold at the auctions. Any market shift will be seen there first.”
Major findings in the free monthly report note:
- Trucks in most segments appreciated for another month
- Class 8 auction pricing up 11.9% month-over-month
- Class 8 retail pricing up 7.1% month-over-month
- Medium duty market strong, particularly for conventionals
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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