McLEAN, Va.–(BUSINESS WIRE)–Commercial Truck auction volume increased in December, likely due at least in part, to a substantial increase in new truck deliveries, according to analysts from J.D. Power Valuation Services, as reported in the January 2022 Commercial Truck Guidelines Industry Update. Companies taking delivery of long-awaited new trucks were most likely eager to offload their older inventory. The retail channel was generally higher in December, breaking records yet again.
“Looking ahead, January is not typically a very useful month for price or volume insight, since there are few auctions on the calendar,” said Chris Visser, commercial truck senior analyst at J.D. Power Valuation Services. “Overall, the market will continue to quickly absorb any increased inventory as long as buyers remain confident of strong freight rates.”
Major findings in the free monthly report note:
- 2021 saw the highest Class 8 pricing in the modern era
- Sleeper tractors brought 96.3% more money year-over-year at auction, 40.7% more at retail
- Surprisingly strong new truck deliveries in December led to higher auction volume
- Despite the volume increase, a market shift is not yet evident
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.
About J.D. Power
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world’s leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.
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