With an improving economy helping to boost the road transport industry it’s probably not a great surprise to read that the good times are also flowing through to the used truck market.
The latest used commercial truck report from industry analysts, J.D. Power Valuation Services, found the used commercial truck market in the U.S. operated as expected during the month of February.
That means the value of used trucks is on the up.
The analysts reporting year-over-year, trucks 4 to 6 years old sold in the first two months of 2018 for 21.7% more money than the same period in 2017.
Chris Visser, commercial truck executive analyst at J.D. Power’s Valuation Services, telling heavyvehicles.com.au that volume was up at February auctions and the medium-duty segment is leading the way.
“February data showed a used truck market operating as expected.
“Supply continues to dictate pricing, but demand should be mildly improving.”
The only issue that looks like putting the brakes on the booming used truck sales industry is a lack of supply!
The report notes that while the year-over-year gains are encouraging, supply of late-model trucks throughout the year should keep depreciation near just 2%.
Check out the full J.D. Power report here.
Meantime, it appears demand for new trucks in the U.S., Australia and across the globe should continue to increase over the next five years.
A report released today predicting that the global truck market should grow at an annual growth rate of over 8% until 2022.
Driving the demand are the continuing improvements in road infrastructure and increasing demand from e-commerce sector.
While there was good news for those manufacturers developing electric and hybrid trucks.
The report predicts demand for alternate energy trucks is anticipated to surge.
Related: Hino Trucks launch XL Series in U.S.
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