Commercial Truck Market Upturn Is on The Road

Ken Zino of AutoInformed.com on US Commercial Truck Market after Trump Administration Covid 19 Denial

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Analysts at J.D. Power Valuation Services claim that Class 8 conditions were generally stabilized in July, signifying June’s recovery was not solely based on pent-up demand.

“Pricing is solidifying, customers are buying more used trucks and new truck orders and deliveries are heading back in the right direction,” said Chris Visser, commercial truck senior analyst at Valuation Services.

“When a massive black swan event blows up everyone’s forecasting models, the human gut becomes the main driver of decisions. Fleets waited to see what would happen to freight volumes once the stockpiling effect shook out, and they seem to be OK with what they are seeing.”

Major findings:

  • Class 8 auction results were solid for another month
    • >Late-model sleepers returned to their highest average pricing in 12 months
  • Class 8 retail pricing was stable
    • >Sales volume was the highest in almost 2 years
  • Medium duty segments were flat-to-downward
    • >Sales volume was down in lighter-GVW segments that small businesses use.

“When a massive black swan event blows up everyone’s forecasting models, the human gut becomes the main driver of decisions. Fleets waited to see what would happen to freight volumes once the stockpiling effect shook out, and they seem to be OK with what they are seeing,” Visser claimed.

About Ken Zino

Ken Zino is an auto industry veteran with global experience in print, broadcast and electronic media. He has auto testing, marketing, public relations and communications expertise garnered while working in Asia, Europe and the U.S.
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