MCLEAN, Va.--(BUSINESS WIRE)--In the July 2020 Commercial Truck Guidelines Industry Update, analysts from J.D. Power Valuation Services reported that Class 8 retail volume was way up in June and depreciation accelerated moderately as a result. Medium duty sales volume was also up across the board.
“June’s strong volume was most likely a combination of pent-up demand from the previous two months combined with optimism about the slow-but-sure reopening of the economy,” said Chris Visser, commercial truck senior analyst at J.D. Power Valuation Services. “As predicted, reopening gathering places resulted in spikes in the virus infections and attendant regional pullbacks, however, the genie has been let out of the bottle and it is extremely unlikely we will see a return to large-scale shutdowns.”
Major findings in the free monthly report note:
- Class 8 sales volume much higher across the board
- Auction pricing relatively solid, low-mileage trucks increasing in value
- Retail depreciation accelerated as increased demand competes with substantial supply
- Medium duty volume much higher across the board
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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