According to an industry update from J.D. Power Valuation Services, the predicted supply increase of Class 8 trucks is lower than forecasted, which resulted in more stable prices.

“We’ve been expecting an increase in off-lease trucks to hit the market, but most lower-mileage trucks that become available are sold before they even make it to auction,” said Chris Visser, commercial truck senior analyst at J.D. Power Valuation Services. “Fleets are holding on to their trucks longer because the new truck lead time is now well into 2019 in most cases. Also, stricter enforcement of hours-of-service rules requires additional trucks to move the same volume of freight as before.”

Major findings in the updated report note:

• Increased demand absorbing supply – Fleets holding on to equipment, plus buying additional used trucks
• Pricing stable to mildly downward -Late-model, low-mileage trucks in short supply
• Medium duty market mostly negative – Higher-GVW trucks performing best