In the November 2020 Commercial Truck Guidelines Industry Update, analysts from J.D. Power Valuation Services reported that the Class 8 pricing was generally stable in October while volume pulled back. Medium duty trucks were mixed. The auction channel saw fewer auctions in the calendar, which means volume looked more like August than September and pricing appeared stable following September’s healthy increase. The volume of lower-spec trucks selling in the retail channel continues to creep up, affecting our averages. Despite this, monthly depreciation remains in the historically-typical range.
“As long as the Federal Reserve keeps rates near zero and development of a COVID-19 vaccine continues to progress, Wall Street sees business as usual,” said Chris Visser, commercial truck senior analyst at J.D. Power Valuation Services. “Two items of concern are the spikes in COVID-19 cases and the cessation of the CARES Act, Paycheck Protection Plan and other stimulus. The net result of these factors could be the negative to the employment picture. We must keep a close eye on that metric.”
Major findings in the free monthly report note:
- Class 8 trucks saw lower volume and stable pricing in retail and auction channels
- Lighter-GVW trucks fared better than their heavier counterparts
- Economy seems to be shrugging off the election aftermath
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.
Reminder: The NACS Crack the Code Experience runs November 2 through December 4, 2020, and features 24/7 access to forward-looking ideas and insights, plus innovative new-to-channel products and strategic connections. There’s still time to register for your own Crack the Code Experience!