The volume of 4-7 year-old trucks sold at auction was healthier than expected in March, given the fact that most auctions moved to online-only. Pricing was flat to slightly lower than February, which outperformed our expectations.
The disruptions to the auction and retail markets in the past month have resulted in unexpected price movements. In response, we are taking the unprecedented step of revising values for the April time period.
Looking at auction activity through the first half of the month, sales volume and pricing performed better than expected. Volume will probably end up similar to February, which was the last pre-virus month.
The volume of 4-7 year-old trucks sold at auction in October pulled back to typical levels after the massive surge in September. Trades and bankruptcy liquidations may have relaxed this month, although there may have been more trucks unsold.