Commercial truck analysts at J.D. Power Valuation Services note in their June 2017 Commercial Truck Guidelines Industry Update, which finds that May’s Class 8 wholesale auction results were unexpectedly weak, with volume and pricing notably lower than April.
Major findings in the free monthly report point out:
- Auction market contracted in May; volume and pricing off compared to first quarter and April
- Seasonality does not completely explain the pullback; economic conditions haven’t changed and there are other factors still to be discovered
- Medium-duty market remains stable; strength of market is concentrated in newer, lower mileage units
When asked about what May’s Class 8 auction results mean for the used commercial truck market, Chris Visser, Senior Commercial Truck Analyst at J.D. Power Valuation Services, said, “The month’s figures are disappointing and the incoming retail data is moderately concerning. However, the first four months of the year are encouraging, and we have not identified a shift in market conditions. We still define the Class 8 environment as incrementally improving.”