J.D. Power: Class 8 Market Finished 2020 on a High Note
JAN 25, 2021 - 6:25 am
In a new report, analysts from J.D. Power Valuation Services reported that all channels of the Class 8 market closed out 2020 on a high note. In addition, J.D. Power analysts reported that medium duty truck pricing fluctuated throughout 2020 but ended the year showing mild depreciation.
“In December, pricing in all channels was encouraging,” Chris Visser, commercial truck senior analyst at J.D. Power Valuation Services, said. “Conditions in the first half of 2021 should feel similar to late 2020, as long as there are no major events impacting the economy.”
Volume was up and pricing was slightly higher at auctions in December
Second half of 2020 pricing was 23.9% above the second half of 2019
Retail volume was up and pricing was stable in December
Depreciation remained close to zero in the second half of 2020
Medium duty segments were mixed
Cabovers continue to hold up well
J.D. Power Valuation Services (formerly NADA Used Car Guide) is a 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.
Supporting bank relationships is the centerpiece of Key Equipment Finance’s new go-to-market strategy, which fueled the bank’s recent decision to exit its commercial and municipal vendor finance business. “We had a very successful commercial vendor business that had been with... read more
“Conduct yourself in every situation as if there was a spotlight on you and everyone can see what you’re doing behind the scenes. Do what’s right. If you do what’s right and work hard, then you’ll be successful.” Bette Kerhoulas’... read more