MCLEAN, Va.--(BUSINESS WIRE)--In the May 2020 Commercial Truck Guidelines Industry Update, analysts from J.D. Power Valuation Services reported that in the first full month of sales under the economic shutdown, Class 8 auction volume was relatively healthy, while pricing pulled back. The retail channel saw lower volume but more stable pricing. Medium Duty trucks had a generally lackluster month.
“There could be an uptick in volume in the coming weeks, but demand will still be limited mainly to replacement iron,” said Chris Visser, commercial truck senior analyst at J.D. Power Valuation Services. “We are cautiously optimistic about the future as the country gradually reopens. Right now, freight volumes look to be lifting off slightly from the post-stockpiling trough. There will be no shortage of used trucks at least through the summer, but we see residual forecasts returning to trend in Q2 2021.”
Major findings in the free monthly report note:
- Class 8 auction volume was healthy, pricing dipped as expected
- Class 8 retail pricing exceeded expectations
- Lighter-GVW medium duty trucks had a solid 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 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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