Commercial Truck Sales Looking Strong in all Segments for Second Quarter 2021, J.D. Power Finds
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MCLEAN, Va.--(BUSINESS WIRE)-- March was quite a month for all segments of the used truck industry, according to analysts from J.D. Power Valuation Services, as reported in the April 2021 Commercial Truck Guidelines Industry Update. Class 8 auction pricing was the standout, particularly for the newest trucks available. Retail pricing stayed firm, while medium duty trucks had a great month, especially in lighter-GVW segments.
“We predict late-model trucks will remain a solid bet into the summer and we won’t be surprised if this dynamic is in place well into the second half of the year,” said Chris Visser, commercial truck senior analyst at J.D. Power Valuation Services. “We’ll stop short of guaranteeing a hot market for all of 2021, but March’s results add optimism to our assumptions.”
Major findings in the free monthly report note:
- Late-model sleeper tractors extremely strong at auction
- Retail traffic for Class 8 trucks highest in over 6 years
- Medium duty segments had a strong month
- Used trucks continue to benefit from constrained availability of new trucks
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.
About J.D. Power and Advertising/Promotional Rules www.jdpower.com/business/about-us/press-release-info
Geno Effler; Costa Mesa, Calif.; 714-621-6224; firstname.lastname@example.org
Source: J.D. Power
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