Retail volume increased for the third month in a row. There was a good mix of trucks sold, with no large packages of trucks with outlier mileage or specs, so our averages should represent true market conditions.
Average pricing for almost all model years of the benchmark model we track was stronger in July. Volume was back down to a typical level after June’s massive increase, due to fewer auctions on the calendar plus pent-up demand being at least partially satisfied in June. See below for average pricing detail for this truck.
Retail pricing remains stronger year-over-year than auction, suggesting dealers are managing inventory by sending the less-desirable trucks to auction and holding somewhat firm on pricing for the cleaner, lower-mileage iron.
As the COVID-19 situation continues to develop, J.D. Power Valuation Services is committed to supporting our industry through this unprecedented time. What follows are our insights through the week ending May 31.