Record-setting orders for new Class 8 trucks are apparently not creating a used-truck glut, if used-truck prices are any indication. However, the growth in prices is expected to slow.
Used truck prices stayed relatively flat in July but remained at favorable levels compared with the same month a year ago, according ACT Research.
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.
“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.
A rising supply of used pickups coupled with aggressive pricing for new models is expected to cause a weakening in values in the wholesale market, according to new data from Black Book.
In May, average wholesale values fell relative to April, though they remain up on a year-over-year basis largely because of the price strength of trucks, according to ADESA.
PHH Arval has opened its first commercial truck center in the country in Virginia Beach to offer its off-lease truck inventory, the fleet management company announced Thursday.
Follow these common sense strategies before the acquisition decision, during ownership and prior to resale to help you hold the line on residual values.
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