TNI || New Delhi || 25th Oct 2021
With auction pricing jumping to a significant extent and retail pricing continuing with its surging trajectory for Class 8 trucks, the sky is the limit.
As per the analysts from J.D. Power Valuation Services, which is a leading provider of vehicle valuation products and services to businesses, the medium-duty truck market is growing stronger by the day, yet again.
As per Chris Visser, Commercial Trucks Senior Analyst with J.D. Power Valuation Services, shipping backlogs, and shortages of parts are as bad as they have ever been, and the condition is going to be the same even in the holiday season.
For the used truck market, however, the conditions are expected to remain hot, barring certain unforeseen changes in the economy.
The major findings in the report point out that the Class 8 auction and buying will continue to see a rise and even break records.
Auction pricing has been 85.1% higher year over year, and even the retail pricing is showing increased numbers. If we go with what is projected, the medium-duty truck segment will stay strong and hold its fort.