Analysts from J.D Power Valuation Services have predicted an increase in truck sales and new vehicle deliveries for fleets in coming months.
According to the company’s July report, a higher volume of trucks sold at auction in June and an apparent turn back towards a normal market are the primary reasons for the prediction. June saw auction sales of sleeper tractors through the largest nationwide auction companies increase by 121 percent over May.
The report indicated that demand for trucks is continuing to out pace the supply. However, the massive increase in new orders continues to indicate the supply will increase as trade normalizes heading into the end of the year.