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Used truck buyers face older inventory, hesitant sellers, and economic headwinds. But understanding the trends could mean smarter decisions tomorrow.
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Depreciation among wholesale medium-duty trucks continued to rise through July and August, according to Black Book’s September Specialty Markets report.
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J.D. Powers analysts found prices for used trucks remain high as volume levels dropped, while retail prices continue to hold steady as well.
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As the summer season continues, one trend is emerging for medium-duty trucks — declining auction prices, according to Black Book’s August Specialty Markets report.
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Retail sales in the U.S. bounced back in April after falling the month before as two readings of inflation also rebounded, all raising the prospect that the Federal Reserve will increase interest rates again in June.
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The Federal Reserve on Wednesday increased the nation’s benchmark interest rate for the third time since its first hike in nearly a decade in December 2015, amid evidence of a steady economy and indications of more interest rate increases later this year.
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Retail sales, one of the largest drivers of the U.S. economy, advanced in January, pointing to increased overall growth in the first quarter of the year. At the same time, prices on the retail and wholesale level posted big gains, and the manufacturing component for industrial production ticked higher.
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While the amount of U.S. industrial production was unchanged in October after falling 0.2% in September, manufacturing managed to squeeze out a gain, as optimism in the housing market continued amid signs of slower than usual growth.
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Retail sales in the U.S. posted a solid gain in September, indicating consumers remain confident about the economy – but a separate report revealed that certainty is being hit by the race for White House.
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So far in 2016, auction prices have decreased less than 3% per month compared to nearly 5% per month in the second half of 2015.
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