With new truck orders down year-over-year but picking up during June compared to May, the used truck market is on a similar trend, according to the latest Price Digests Commercial Truck Report. Month-over-month activity increased 21.8% last month but June saw a 40.5% drop year-over-year on the resale channel. The auction channel had increases of 9.2% from May and 41% from June 2018 with a monthly decrease in Forced Liquidation Value (FLV) of 1.2%.
In other market highlights, the report notes:
- Average age for the resale channel did not see much change in June, but auction average age increased 3.4% since May.
- The average usage on the auction channel dropped both month-over-month and year-over-year, down 8.3% and 11.5% respectively as age increased.
- After a few months of trending towards convergence, FLV and Fair Market Value (FMV) are heading in different directions as FMV increased 0.8% in June 2019 and FLV decreased 1.2%.
The report forecasts FMV and FLV to level out in the next month before they begin to decline at the end of summer moving into September and October.
The Price Digests Commercial Truck Report is a monthly analysis of key market performance indicators covering heavy and medium-duty commercial truck market insights for insurance, finance, fleet management, valuation, and property tax professionals.
An analysis of resale and auction commercial truck markets:
- FMV and FLV Trends
- Market Forecasting
- Top Brand Trends (Freightliner, Kenworth, Volvo and more)
- Market Volume
- Market Insights
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