MCLEAN, Va.--(BUSINESS WIRE)--
In the October 2019 Commercial Truck Guidelines Industry Update, analysts from J.D. Power Valuation Services reported that the used sleeper tractor market is oversaturated, leading buyers to desire lowest-mileage equipment. The medium-duty truck market remained somewhat unpredictable, with cabovers and Class 4 trucks performing well, and Class 6 conventionals pulling back this month.
“Demand for used trucks is mixed right now, following the short dip in September, and could potentially improve if progress is made in the tariff war,” said Chris Visser, Commercial Truck Senior Analyst at J.D. Power Valuation Services. “We expect that supply will remain a problem into 2020, which may be exacerbated due to the economic stimuli of 2018 and the ongoing trade war.”
Major findings in the free monthly report note:
- Class 8 Supply Dictating Pricing at Auction and Retail
- Auction depreciation averaging 2.5% per month
- Retail depreciations averaging 1.5% per month, but accelerating
- Lower pricing is keeping buyers in the market
- Medium Duty Conditions are Mixed
- Cabovers and Class 4 pulled back
- Class 6 records second consecutive strong month
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 one 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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