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 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
