As the summer season continues, one trend is emerging for medium-duty trucks — declining auction prices, according to Black Book’s August Specialty Markets report.
Volume-weighted, overall truck segment (including pickups, SUVs, and vans) values decreased by just 0.03% last week, better than the average decrease of 0.17% per week in the previous four weeks.
Generally, medium-duty segments are holding up well, with cabovers and lighter GVW conventional trucks performing the best.
Medium-duty trucks at auction have had a shaky start to 2017, with both volume and pricing down compared to the same time last year, according to NADA Used Car Guide’s March 2017 Commercial Truck Guide Industry Update. However, with a boost in demand expected in the latter half of the year, medium-duty trucks should finish off this year in better shape than in 2016.
After the first month of the year, depreciation rates for medium-duty trucks are up and overall orders for the segment are down, according to Black Book’s Feb. 7 Market Insights Report.
Used medium-duty truck models (model-years 2005-2012) experienced a 1% resale value decline in February, and resale values for trucks model-year 2013-2014 dropped 0.9%.
Heavy and certain light and medium trucks make up the largest share of transactions for first three quarters of 2015, says IHS Automotive.
While entry-level cars are showing some of the largest declines of the year, possibly related to gasoline prices, diesel prices are not having a similar impact on diesel trucks.
Overall, used GVW 3-8 transactions from March 1, 2014 to March 31, 2015 accounted for 51.7 percent of total GVW 3-8 transactions in the U.S. market.
Increased buying opportunities and a favorable economic climate are limiting price growth, and the supply of quality used trucks is expected to increase.
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