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 monthly report note include:
* 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.