Average Fair Market Value (FMV) for used commercial vehicles ticked upward in May, climbing 0.1% due to minimal pricing changes on the resale channel for heavy-duty trucks, according to the latest Price Digests Commercial Truck Report. Most FMV drops were focused on the 2013, 2014, and 2015 model years for both heavy and medium duty
In other market highlights, the report notes:
- Forced Liquidation Value (FLV) dropped 1.3% month over month resulting in 4.3% higher FLV than last year as volume increased on the auction channel.
- Average age and usage decreased along with the volume on the resale channel both month over month and year over year as significantly younger, yet only 0.6% less mileage, trucks available.
- The auction channel increase in volume was more impactful on the month over month change than the year over year, up 83.7% from the previous month resulting in the decrease of FLV which was much higher than the 0.8% drop between April and May of 2018.
The report forecasts FMV to continue with minimal month over month changes and FLV to increase, all before drops on both channels begin at the end of summer into fall.
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.
What's inside
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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