Forced Liquidation Value (FLV) on the commercial truck market increased 3.5% in March with activity more than double the previous month, according to the latest Price Digests Commercial Truck Report. Even though the volume was up month over month, it was still 18.1% below 2018 levels allowing the year over year FLV increase of 1.5%
In other market highlights, the report notes:
- As the auction channel picked up, the resale channel declined in activity 5.4% month over month and 12.5% year over year.
- The average age on the auction channel increased 11.5% with usage down 4.8%, indicating the increase in volume brought older trucks with less mileage than previously seen.
- Average age on the resale channel dropped more than 20% from 2018 with about a 20% increase in average usage which would be expected to fall in line with one another.
The report forecasts that average Fair Market Value (FMV) and FLV are expected to hold steady over the next few months before declining in the third quarter.
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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