Used truck prices are holding steady, with supply still dictating pricing. That’s the word from J.D. Power’s Commercial Truck Guidelines for March, which notes that February is the first month in any new year with a high enough volume of used truck auctions to allow analysts to identify market trends.
Following a surge in October, same-dealer used Class 8 truck sales dropped 17% in November and prices fell by 3%.
Class 8 same dealer used truck volumes continued to climb in October, with the best month of 2017 so far, according to ACT Research.
Used Class 8 truck same-dealer sales volumes rose by two dozen units in September, according to a report on the used commercial vehicle market from ACT Research.
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.
“It is expected that we will see more declines in the Index in the months ahead as we move deeper into the year, particularly driven by softness among car segments,” said Anil Goyal, senior vice president of Automotive Valuation and Analytics for Black Book.
Industry experts say a glut of used trucks remains on the market and, in extreme cases, some fleets actually owe more for equipment than it is now worth on the secondary market.
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.
While truck segments retained their values better than cars, subcompact vehicle values in both car a truck categories showed steeper declines compared to all other vehicles.
A new threat to used vehicle prices seems to be arising from increased new vehicle incentives, which have been relatively benign through this cycle of price softening.
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