Medium Duty Market Heating Up Even More

The medium duty market had a strong month in June, with all segments bringing more money month-over-month. Selling prices in 2021 continue to blow away both 2020 and 2019.

Starting with Class 3-4 cabovers, our benchmark group bounced back from May’s dip, averaging $22,154, $3,020 (15.8%) higher than May, and $8,569 (59.4%) higher than June 2020. The first 6 months of 2021 are running 54.7% higher than the same period of 2020, and 23.8% higher than the same period of 2019. Thanks to this month’s recovery, trucks in this segment are back into the appreciation zone, gaining an average of 2.0% per month in value so far in 2021.

Looking at Class 4 conventionals, average pricing for our benchmark group was $29,098, $346 (1.2%) lower than May, and $7,209 (33.0%) higher than June 2020. The first 6 months of 2021 are now running 26.3% ahead of the same period of 2020, and 20.7% higher than the same period of 2019. Trucks in this segment have appreciated an average of 3.7% per month so far in 2021.

Class 6 conventional pricing averaged $31,537 in June, $859 (2.8%) higher than May, and $10,517 (50.0%) higher than June 2020. The first 6 months of 2021 are running 25.4% ahead of the same period of 2020, and 16.8% higher than the same period of 2019. Trucks in this group have gained an average of 3.4% per month so far in 2021.

Last-mile delivery, contracting, moving, and other segments covered by medium duty trucks will remain strong going forward. New truck availability will remain tight as well. All of these factors point to high pricing in upcoming months.