McLEAN, Va.–(BUSINESS WIRE)–In the August 2020 Commercial Truck Guidelines Industry Update, analysts from J.D. Power Valuation Services reported that Class 8 conditions across the board were generally stabilized in July, suggesting June’s recovery was not solely based on pent-up demand.
“Pricing is solidifying, customers are buying more used trucks and new truck orders and deliveries are heading back in the right direction,” said Chris Visser, commercial truck senior analyst at J.D. Power Valuation Services. “When a massive black swan event blows up everyone’s forecasting models, the human gut becomes the main driver of decisions. Fleets waited to see what would happen to freight volumes once the stockpiling effect shook out, and they seem to be OK with what they are seeing.”
Major findings in the free monthly report note:
- Class 8 auction results were solid for another month
- Late-model sleepers returned to their highest average pricing in 12 months
- Class 8 retail pricing was stable
- Sales volume was the highest in almost 2 years
- Medium duty segments were flat-to-downward
- Sales volume was down in lighter-GVW segments
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.
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, J.D. Power has offices serving North America, South America, Asia Pacific and Europe.
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