Volume in secondary commercial truck markets rebounded in February after a seasonally slow start to the new year, according to the latest Price Digests Commercial Truck Report. While the resale channel activity was up 100.6% last month, that activity still came in 29.5% below last year.
As expected, the Forced Liquidation Value (FLV) went up 0.6% last month with a 1.4% increase year over year, the report says. With the increase in FLV, there was also an increase in average usage as the age dropped indicating the newer trucks have higher mileage but are also dominating the channel with a 35.6% increase in activity.
In other market highlights, the report notes:
- Average usage increased both month over month and year over year on both the auction and resale channels, so even though age dropped in a few cases, the trucks are accumulating more miles on average.
- Fair Market Value (FMV) was down for the month, primarily due to the 2017 and 2018 model year trucks in their first two years of depreciation.
The report forecasts the auction channel to slow down in March, with the hopes that activity on the resale channel will pick up.
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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