Used Trucks Close Out Summer Strong, J.D. Power Finds

Used Trucks Close Out Summer Strong, J.D. Power Finds

New truck shortage expected to continue into 2022 based on current economic conditions.

August’s Class 8 auction pricing was stable at a high level and retail pricing set records once again, according to analysts from J.D. Power Valuation Services, as reported in the September 2021 Commercial Truck Guidelines Industry Update. The medium duty market was generally strong, particularly for conventionals.

“The new truck shortage is all but guaranteed to continue into 2022, assuming economic conditions stay on track,” said Chris Visser, commercial truck senior analyst at J.D. Power Valuation Services. “Freight rates could peak early in the year, but should not pull back significantly for some time. As of mid-September, these are the two main factors supporting used truck pricing and governing our forecasts.”

Major findings in the free monthly report note:

  • Low-volume month at auctions left pricing stable at a high level
    • Late-model auction pricing was 84.7% higher than 2020, 53.1% higher than 2019
  • Retail pricing set a new record for the third month in a row
    • Late-model retail pricing was 27.2% ahead of 2020, 7.3% ahead of 2019
  • Medium duty market generally strong
    • Conventionals had a very strong month, cabovers pulled back slightly

Download the free September 2021 Commercial Truck Guidelines Industry Update

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