NADA Commercial Truck Guide Industry Update

Transcription

1 NADA Commercial Truck Guide Industry Update 2014 Class 8 retail pricing may have found its ceiling Increased numbers of late-model trucks entering market Interest in high-mileage trucks increases in wholesale channel Demand for pre-dpf trucks makes investment worthwhile Medium duty segments showing continued strength Class 4 gradually recovering, Class 6 particularly strong in ch

2 Price Commercial Truck Guidelines 2014 TABLE OF CONTENTS Commercial Truck ket Trends... 2 Economic Data ATD/NADA Official Commercial Truck Guide Value Trends At NADA Used Car Guide COMMERCIAL TRUCK MARKET TRENDS Summary The volume of trucks sold at auction roared back in ch after a mediocre start to the year, thanks to pent-up demand and the month s traditionally strong results. Volume through the retail channel increased mildly, potentially representing a return to monthover-month stability. Class 8 retail pricing on average is mildly down, suggesting that late-model trucks may have found their price ceiling. Class 8 wholesale pricing on average also ticked downward, driven by the continued increase in number of high-mileage trucks sold. In the medium duty market, Class 4 conventionals continue to gradually strengthen, while Class 6 conventionals turned in a very strong month. Major players in the new truck arena are making big bets on the used truck market, as a special commentary explores. Sleeper Tractors Retail Retail sales data submitted to NADA from dealers and Average Retail Price and Mileage: All Sleeper Tractors Under 1M Miles OEM s shows that the overall sleeper market in $60,000 Price Mileage 580,000 ch ticked mildly downward. $55, ,000 The average sleeper tractor retailed in ch was 77 months old, had 524,564 miles, and sold for $55,840. Compared to ruary, this truck was one month newer, had 4224 (or 0.8%) fewer miles, and worth $50, ,000 $386 (or 0.7%) less. Compared to ch 2013, this $30, ,000 $45, ,000 $40, ,000 $35, ,000 Mileage Source: ATD/NADA NADA Used Car Guide 8400 Westpark Drive McLean, VA nada.com/b2b 2

3 Jan-12 Apr Jun Aug Oct Dec Apr Jun Aug Oct Dec Price Jan-12 Apr Jun Aug Oct Dec Apr Jun Aug Oct Dec Sales Volume Commercial Truck Guidelines 2014 [ COMMERCIAL TRUCK MARKET TRENDS continued ] truck was identical in age, essentially identical in mileage, and worth $5048 (9.0%) more. See Average Retail Price and Mileage graph. The year-over-year comparison provides a good example of how the market has shifted over this period, with the average used truck now worth over $5000 more retail despite identical age and mileage. As we ve stated, continued increases in our universal average are due mainly to an increased number of newer, lower-mileage trucks available to the secondary market. Trucks of 2011 vintage are now the most common sold retail, and 2012 s are slowly but surely coming on-line. In terms of mileage, trucks in the ,000 range have increased in recent months. See Monthly Retail Sales Volume graph. Based on this positive data, why did we say that the market ticked mildly downward? Because when viewed on an individual basis, most trucks declined slightly in ch. Essentially, the market is increasingly represented by newer trucks, which bolsters our universal average - but when viewed by model year, trucks are flat to slightly down. See Average Retail Price by Model Year graph. Spring market dynamics are still shaking out after an unusual winter, so we are not yet identifying a trend. We expect retail pricing in upcoming months to be stable to very mildly downward. Sleeper Tractors Wholesale The wholesale channel continues to be a story of two separate markets, with trucks with under 600,000 miles representing the late-model, higher-priced component and the segment represented by trucks with over 800,000 miles increasing in popularity. Volume and pricing for the high-mileage segment increased through the 1st quarter of 2014, which is a new development. Monthly Retail Sales Volume by Model Year: Sleeper Tractors Under 1M Miles Source: ATD/NADA Average Retail Price by Model Year All Sleeper Tractors Under 1M Miles - Adjusted for Mileage $100,000 $90,000 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 Source: ATD/NADA per. Mov. Avg. (2008) 2 per. Mov. Avg. (2009) 2 per. Mov. Avg. (2010) 2 per. Mov. Avg. (2011) 2 per. Mov. Avg. (2012) NADA Used Car Guide 8400 Westpark Drive McLean, VA nada.com/b2b 3

4 Price Jan-12 Price Commercial Truck Guidelines 2014 [ COMMERCIAL TRUCK MARKET TRENDS continued ] On average, the typical used truck sold at auction or dealer-to-dealer in ch was 86 months old, had 699,500 miles, and brought $32,183. Month-over-month, this truck was 3 months older, had 23,965 (or 3.3%) fewer miles, and cost $492 (or 1.5%) more. Year-over-year, the average truck was 7 months newer, had 43,785 (or 5.9%) fewer miles, and cost $8452 (or 26.3%) more. See Average Wholesale Price and Mileage graph. The year-over-year increase is due mainly to a higher number of 2009 and 2010 model-year trucks moving through wholesale channels, their higher relative pricing comprising a larger proportion of the universal average this month. As for high-mileage trucks, buyers continue to pay more for trucks with over 800,000 miles, continuing a trend that began in the 1st quarter. In 2014 to date, trucks in this mileage group make up a larger proportion of the market than they did in These trucks are most commonly from the 2006 and 2007 model years, which are popular as the last of the pre- DPF models. Engines will need a major overhaul if they haven t had one already, but some buyers may consider this procedure worth the investment, since the market for pre-dpf trucks with remaining useful life remains healthy outside of coastal/port regions. Anecdotal evidence suggests this activity is most common in the long & tall segment, but our data indicates aerodynamic models are also contributing to this trend. See Average Wholesale Price and Number of Trucks Sold graph. Average Wholesale Price and Mileage: All Sleeper Tractors Under 1M Miles $45,000 $40,000 $35,000 $30,000 $25,000 $20,000 $15,000 $10,000 Given this dynamic, dealers may want to revisit their aged, high-mileage inventory, as there may be more buyers out there now than in previous months. Establishing a relationship with a high-mileage truck broker or buyer could pay off in inventory $5,000 reduction and potentially increased comfort with high-mileage trade-ins. $0 Source: NADA and AuctionNet 2 per. Mov. Avg. (Price) 2 per. Mov. Avg. (Mileage) Average Wholesale Price and Number of Trucks Sold by Mileage Range - Sleeper Tractors, YTD2014 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 Sources: ATD/NADA and AuctionNet Price Count Mileage 750, , , , , , , , Mileage Count NADA Used Car Guide 8400 Westpark Drive McLean, VA nada.com/b2b 4

5 Price Price Commercial Truck Guidelines 2014 [ COMMERCIAL TRUCK MARKET TRENDS continued ] We will continue to monitor this segment to determine whether these results are evidence of a long-term trend or merely a short-term anomaly following the unusual start to the year. Stay tuned. Competitive Comparison This month, we return to our benchmark 4-year-old comparison of aerodynamic models sold through the retail channel. As always, the comparison is limited to trucks equipped with big-bore or proprietary engines. As you can see, pricing for these trucks followed the broader market, staying similar to ruary or ticking mildly downward. See Average Retail Price 4 Year- Old Sleeper Tractors graph. The Freightliner Cascadia continues to lead the aerodynamic segment, retaining that position even after moving slightly downward this month. The 386, T660, and T700 returned very similar results monthover-month, and are positioned essentially equally in the marketplace. In the late-model market, there does not appear to be a clear difference between wide cab trucks, such as the T700 and 730/780, and narrow cab trucks, such as the T660 and 386. The moderately increased versatility of the narrower cab design is likely counterbalanced by the increased interior space of the wide-cab trucks, at least for units with remaining useful life in a long-haul role. A difference may become more apparent as trucks accumulate mileage and are placed in more local/ regional roles. Average Retail Price - 4-Year-Old Sleeper Tractors Adjusted for Mileage For trucks that typically trail the segment average, an increased number of MaxxForceequipped ProStars were sold in ch, placing downward pressure on that model s average. As experience with the 2011 iteration of the MaxxForce engine grows, $90,000 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 Source: ATD/NADA Avg. for All Trucks 2 per. Mov. Avg. (VNL 730/780) 2 per. Mov. Avg. (386) 2 per. Mov. Avg. (Cascadia) 2 per. Mov. Avg. (T660) 2 per. Mov. Avg. (T700) Apr Jun Aug Oct Dec Average Retail Price - 4-Year-Old Sleeper Tractors Adjusted for Mileage $90,000 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 Source: ATD/NADA Avg. for All Trucks 2 per. Mov. Avg. (T2000) 2 per. Mov. Avg. (387) 2 per. Mov. Avg. (VNL 630/670) 2 per. Mov. Avg. (ProStar) Apr Jun Aug Oct Dec NADA Used Car Guide 8400 Westpark Drive McLean, VA nada.com/b2b 5

6 Price Commercial Truck Guidelines 2014 [ COMMERCIAL TRUCK MARKET TRENDS continued ] marketplace confidence appears to be improving, judging by increased volume and pricing stability. As for other models, the 630/670 was stable month-over-month, and the limited build of s resulted in no reported sales in ch. Medium Duty Class 4 Conventionals The Class 4 Conventional segment showed strength in ch, with average wholesale pricing for 4-7 yearold units coming in at $17,581 - $2487 (or 14.1%) higher than last month, and $3274 (or 18.6%) higher than ch Average mileage was 98,745 16,499 (or 14.3%) lower than ruary, and 9492 (or 8.8%) lower than ch See graph. On a quarter vs. quarter basis, Q saw higher pricing than Q4 2013, at $16,005 vs. $13,322, respectively. Mileage in Q was mildly lower than the previous quarter, at 105,307 vs. 108,282. Q was slightly better than Q1 2013, with a $776 (or 4.8%) improvement in price despite a 6708 (or 6.4%) increase in mileage. Average Wholesale Price and Mileage: 4-7 Year-Old Class 4 Conventionals $25,000 $20,000 $15,000 $10,000 $5,000 $0 Sources: ATD/NADA and AuctionNet 2 per. Mov. Avg. (Class 4 Price) 2 per. Mov. Avg. (Class 4 Mileage) 140, , ,000 80,000 60,000 40,000 20,000 0 Mileage This higher pricing is encouraging, but keep in mind the moderately lower mileage this month is partly responsible. Also, and more importantly, the volume of trucks reported sold in this cohort has remained in the unit range each month, down about 25 units from the 2012 average. Given these results, we continue to view the Class 4 segment as gradually improving. As this segment touches a wide variety of economic segments, we expect results in upcoming months to roughly track the gradual improvement in the domestic economy overall. Medium Duty Class 6 Conventionals Since January, we ve been reporting on the extremely low number of model year Class 6 Conventionals sold. Along with that low volume has come historically high pricing. In ch, the average 4-7 year-old Class 6 Conventional sold wholesale for $25,014 this highest average price in at least six years. Mileage was moderately low, at NADA Used Car Guide 8400 Westpark Drive McLean, VA nada.com/b2b 6

7 Price Commercial Truck Guidelines 2014 [ COMMERCIAL TRUCK MARKET TRENDS continued ] 136,871, continuing a trend begun in January. See graph. Given the low monthly volume of this cohort, it is useful to look at quarterly results for a basis of comparison. Average price for the first quarter of 2014 was $24,005 a whopping $8028 (or 33.4%) higher than 4Q Lower average mileage this quarter was largely responsible for the price difference, coming in 23,015 (or 13.4%) lower than last quarter. Year-over year, Q was $7798 (or 32.5%) higher on price, and 35,663 (or 19.5%) lower on mileage. The Class 6 market is now priced higher than the previous post-recession peak in early Average Wholesale Price and Mileage: 4-7 Year-Old Class 6 Conventionals $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $0 Sources: ATD/NADA and AuctionNet 2 per. Mov. Avg. (Class 6 Price) 2 per. Mov. Avg. (Class 6 Mileage) 250, , , ,000 50,000 0 Mileage Lower average mileage is the main factor behind the higher pricing. At the same time, a deeper dive into the data suggests that trucks at given mileage points are bringing moderately higher pricing in the current period. As such, our confidence in the strength of the Class 6 market is increasing. Special Commentary: Major Players Betting Big on Used Trucks Recently, two of the nation s largest sources of new and used trucks, Rush Enterprises and Penske, opened brick-and-mortar locations dedicated solely to used trucks. Rush currently operates one Rig Tough used truck location, and is planning to open an unknown number of additional locations this year. Penske Used Trucks currently has two locations, and plans to open two more by the end of For entities with access to the necessary capital, a major investment in used truck infrastructure makes sense. Late-model trucks are selling for historically high prices, and increased numbers of these trucks have been entering the secondary market due to the return to normal build rates and shorter trade cycles. In addition, competition between OEM s for new truck business will likely provide additional late-model trade-ins. NADA Used Car Guide 8400 Westpark Drive McLean, VA nada.com/b2b 7

8 Jan-12 Apr Jun Aug Oct Dec Apr Jun Aug Oct Dec Count Commercial Truck Guidelines 2014 [ COMMERCIAL TRUCK MARKET TRENDS continued ] In general, dedicated used truck locations provide enhanced visibility among end users, extend services to areas otherwise not served by a dealer group, and ensure that a used truck is marketed on its own merits as opposed to merely being a component of a new truck deal. Looking specifically at Penske, this move represents a shift from their traditional wholesale model towards the retail channel, providing the end user with medium and heavy trucks ready for immediate purchase. In terms of Rush, the move provides potential customers increased access to trucks returning from trade in the near future. In both cases, an expected increase in volume of tradeins is an underlying rationale. In terms of the customer base, customer analytics have become extremely advanced thanks to better understanding of big data, and major operators like Penske and Rush are surely among the most-savvy when it comes to taking advantage of all the predictive tools available. According to ATD 20 Group data, used trucks represent a higher margin than new trucks as a percentage of gross. Establishing physical outlets for used trucks indicates a realization that there will be more iron to move, and there is money to be made doing it. Sales Volume As predicted, ch s retail volume was slightly higher than ruary s. ch came in at 6.3 trucks retailed per rooftop 0.2 higher than ruary. See Average Number of Used Trucks graph. Average Number of Used Trucks Retailed per Rooftop ch is traditionally a high-volume month, and the remaining pent-up demand from the winter likely contributed to sales. Thanks to fewer external factors suppressing demand, we expect increased stability in volume in upcoming months Source: ATD/NADA NADA Used Car Guide 8400 Westpark Drive McLean, VA nada.com/b2b 8

9 Jan-10 Jan-11 Jan-12 Total Sales Commercial Truck Guidelines 2014 [ COMMERCIAL TRUCK MARKET TRENDS continued ] On the wholesale side, pent-up demand following the rough winter combined with timing of our data collection processes resulted in a massive increase in number of trucks reported sold in ch. In fact, this month represented the highest volume reported since of Month-over-month, ch s total of 4183 trucks was higher than ruary s by 1202 (or 28.7%). Year-overyear, ch 2014 was 1109 (or 26.5%) higher. See Total Wholesale Sales graph. Due to the timing of our data collection processes, we received one additional week of sales in ch compared to ruary. However, even if we split that extra week evenly between ruary and ch, ch still comes out ahead by almost 12%. That additional volume is explained by typical early-spring seasonality amplified by the severe winter. Volume will likely return closer to the 2013 average, and we expect auction activity in 2014 to proceed moderately higher than last year. Conclusion In the retail channel, Class 8 sleepers have likely seen the last of their appreciation. Pricing should remain at or mildly off record highs in upcoming months as more latemodel trucks become available. In the wholesale channel, increased interest in highmileage trucks is the new dynamic. In the medium duty sector, Class 4 conventionals are in recovery, albeit a very gradual one. Class 6 s may finally be coming back, although we will need another month of sales not impacted by winter weather to gain confidence in that assertion. The Economic Trends section of this document contains detailed analysis of economic factors impacting the new and used vehicle markets. Also, be sure to keep up with our Commercial Vehicle Blog at for real-time updates on our market data. Total Wholesale Sales Reported to NADA 6,000 5,000 4,000 3,000 2,000 1, Total: 42,320 Sources: ATD/NADA and AuctionNet 2011 Total: 29, Total: 34, Total: 39,179 NADA Used Car Guide 8400 Westpark Drive McLean, VA nada.com/b2b 9

10 Jan Jan Jan Jan Jan Prior-Month Change (thousands) Jan Jan Jan Jan Jan Unemployment Rate (%) Percent Change from Preceding Commercial Truck Guidelines 2014 [ ECONOMIC TRENDS ] Growth in the U.S. economy slowed dramatically to just 0.1% in the January-ch quarter amid a particularly harsh winter, according to the Commerce Department. The latest GDP figure was down from 2.6% growth in the fourth quarter of last year and represents the weakest growth since the end of The Bureau of Economic Analysis said a drop in exports and business investment especially on transportation equipment, computers and peripherals and a fall in housing construction tied to the weather were major factors. While worse than expected, the sharp downturn is likely to be temporary as growth rebounds with warmer weather. In contrast, people are still buying things. Growing at a 3% annual pace, consumer spending continues to be a bright spot. In particular, consumers shelled out more money on health care. The Bureau of Economic Analysis noted that the health care increase was driven primarily by the implementation of the Affordable Care Act. Consumers also spent more on utilities likely because of the cold temperatures, but they cut back on clothing, household furnishings and eating out at restaurants. Auto sales jumped 8.5% in April compared with the same month a year ago, the best April sales increase in nine years. According to the Labor Department, the unemployment rate plunged to 6.3% in April from 6.7% in ch to reach its lowest level since tember This happened for two reasons; employers added 288,000 jobs to payrolls, the most Real Gross Domestic Product Percent change from preceding period (%, SAAR) Source: U.S. Bureau of Economic Analysis Quarter Unemployment and Labor Participation Rates Seasonally Adjusted Source: U.S. Bureau of Labor Statistics Participation Rate Monthly Change in Nonfarm Payrolls Seasonally Adjusted Source: U.S. Bureau of Labor Statistics Month Unemployment Rate Month Labor Participation Rate (%) NADA Used Car Guide 8400 Westpark Drive McLean, VA nada.com/b2b 10

11 Jan Jan Jan Jan Jan Index Level Jan Jan Jan Jan Jan Housing Starts (thousands) Commercial Truck Guidelines 2014 [ ECONOMIC TRENDS continued ] in two years, and the number of people looking for work fell sharply. Employers also added more jobs in ruary and ch than previously estimated: the job totals for those two months were revised up by a combined 36,000. Job creation is accelerating with employers added an average of 238,000 jobs the past three months. That's up from 167,000 in the previous three months. Existing-home sales were essentially flat in ch, while the growth in home prices moderated, according to the National Association of Realtors. Sales gains in the Northeast and Midwest were offset by declines in the West and South. Total Housing Starts, Privately Owned Seasonally Adjusted Total existing-home sales slipped 0.2% to a seasonally adjusted annual rate of 4.59 million in ch from 4.60 million in ruary, and are 7.5% below the 4.96 million-unit pace in ch Last month s sales volume remained the slowest since y 2012 at 4.59 million. The median existing-home price for all housing types in ch was $198,500, up 7.9% from ch Distressed homes foreclosures and short sales accounted for 14% of ch sales, down from 16% in ruary and 21% in ch Source: U.S. Census Bureau Month S&P/Case-Shiller 20-City Composite Home Price Index Three-month moving average published with a two-month lag Total housing inventory at the end of ch rose 4.7% to 1.99 million existing homes available for sale, which represents a 5.2-month supply at the current sales pace, up from 5.0 months in ruary Month Source: S&P Dow Jones Unsold inventory is 3.1% above a year ago, when there was a 4.7-month supply. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.34% in ch from 4.30 % in ruary; the rate was 3.57% in ch NADA Used Car Guide 8400 Westpark Drive McLean, VA nada.com/b2b 11

12 Average Price Average Price Commercial Truck Guidelines 2014 [ ECONOMIC TRENDS continued ] Single-family home sales were unchanged at a seasonally adjusted annual rate of 4.04 million in ch, the same as ruary, but are 7.3 % below the 4.36 million pace a year ago. The median existing single-family home price was $198,200 in ch, which is 7.4% above ch U.S. crude oil refinery inputs averaged 16.0 million barrels per day during the week ending April 25, 2014, which is 26,000 barrels per day less than the previous week s average. Refineries operated at 91% of their operable capacity last week. Gasoline production decreased last week, averaging over 8.6 million barrels per day. Distillate fuel production decreased last week, averaging over 4.9 million barrels per day. The national average retail regular gasoline price increased for the 12th week in a row to $3.713 per gallon on April 28, 2014, which is $0.030 per gallon more than last week and $0.193 over a year ago. The national average retail diesel fuel price increased to $3.975 per gallon, $0.004 per gallon higher than last week and $0.124 above a year ago. Regular Grade Gasoline Prices (all formulations) $4.00 $3.90 $3.80 $3.70 $3.60 $3.50 $3.40 $3.30 $3.20 $3.10 Source: U.S. Energy Information Administration Average Price Per Gallon On-Highway Diesel Fuel Prices $4.05 $4.00 $3.95 $3.90 $3.85 $3.80 $3.75 Source: U.S. Energy Information Administration Month Average Price Per Gallon Month $ YoY Change $ YoY Change $0.40 $0.30 $0.20 $0.10 $0.00 ($0.10) ($0.20) ($0.30) ($0.40) ($0.50) $0.20 $0.15 $0.10 $0.05 $0.00 ($0.05) ($0.10) ($0.15) ($0.20) ($0.25) Price Change Price Change NADA Used Car Guide 8400 Westpark Drive McLean, VA nada.com/b2b 12

13 Commercial Truck Guidelines 2014 [ ATD/NADA OFFICIAL COMMERCIAL TRUCK GUIDE TRENDS ] Monthly Change in ATD/NADA Commercial Truck Guide Value 2014 v. April 2014 NADA Segment 2008MY 2009MY 2010MY 2011MY 2012MY* Commercial Van 0.0% 0.0% -0.2% 0.0% 0.3% Extended Hood 0.0% 0.0% 0.0% 0.0% 0.0% Highway Aerodynamic 0.0% 0.3% -1.3% -0.1% 0.0% Highway Traditional 0.0% 0.0% 0.0% 0.0% 0.0% Local/Delivery Daycab 0.0% -0.1% -0.7% -0.3% 0.0% Medium Duty Cabover 0.0% 0.0% 0.0% 0.0% 0.0% Medium Duty Conventional 0.0% 0.0% 0.0% 0.0% 0.0% Vocational/Construction 0.0% 0.0% 0.0% 0.0% 0.0% *Value movement can be influenced by newly valued vehicles. Annual Change in ATD/NADA Commercial Truck Guide Value, 2013 v NADA Segment 5YR 4YR 3YR 2YR Segment Change Commercial Van -6.5% 9.4% -10.8% 0.1% -2.0% Extended Hood 1.7% 5.3% 7.1% -3.4% -0.5% Highway Aerodynamic 7.5% 2.1% 6.9% 10.1% 6.3% Highway Traditional 2.7% 6.6% 6.3% 0.6% 6.6% Local/Delivery Daycab 5.5% 1.5% 13.1% 0.6% 3.2% Medium Duty Cabover -19.8% 11.2% 1.1% N/A -8.4% Medium Duty Conventional 4.2% -5.4% -14.4% -7.5% -5.6% Vocational/Construction 1.9% 19.2% N/A N/A 16.6% *Calculations are based on vehicle age, i.e. values for 1 year old vehicles in CY2014 are compared against values for 1-year-old vehicles in CY2013. YTD Change in ATD/NADA Commercial Truck Guide Value NADA Segment 2008MY 2009MY 2010MY 2011MY 2012MY* YTD Segment Commercial Van 0.0% 0.0% -6.4% -7.6% -6.2% -4.7% Extended Hood -1.5% -3.7% -9.0% -6.8% -7.1% -5.7% Highway Aerodynamic -3.0% -2.7% -9.7% -7.5% -6.4% -5.8% Highway Traditional -3.3% -2.8% -8.8% -7.7% -6.8% -5.9% Local/Delivery Daycab -5.8% -5.4% -9.3% -7.3% -6.5% -6.7% Medium Duty Cabover -4.7% -5.0% -4.2% -12.5% -7.3% -5.0% Medium Duty Conventional -0.2% 0.0% -0.9% -9.4% -6.9% -2.9% Vocational/Construction -3.6% -3.4% -2.8% -2.4% -2.3% -3.0% NADA Used Car Guide 8400 Westpark Drive McLean, VA nada.com/b2b 13

14 Commercial Truck Guidelines 2014 AT NADA USED CAR GUIDE What s New NADA Online delivers values from 10 different NADA guidebooks including commercial trucks. Starting at $385 per year, NADA Online is comprehensive, easy to use and includes mobile web access free with your subscription. And since it s web-based, there is no software to install and your whole staff can use it at the same time without the need for additional user licenses. NADA Online provides NADA Retail, Loan and Wholesale values for truck and trailers dating back to the 2000 model year. If you re looking for a small number of commercial vehicle values, the Official Commercial Truck Guide Online Mini- Pack provides three values online for $40. On the Road Stay up to date with the latest in the commercial truck industry by stopping by NADA s Commercial Truck Blog and our ket Overviews video section of the website. Updated twice per week by Chris, the blog provides real-time analysis of incoming sales data from the industry s leading used truck sales database. NADA produces a monthly market overview video to provide further insight into the commercial truck market. About NADA Used Car Guide Since 1933, NADA Used Car Guide has earned its reputation as the leading provider of vehicle valuation products, services and information to businesses throughout the United States and worldwide. NADA s editorial team collects and analyzes over one million combined automotive and truck wholesale and retail transactions per month. Its guidebooks, auction data, analysis and data solutions offer automotive/truck, finance, insurance and government professionals the timely information and reliable solutions they need to make better business decisions. Visit nada.com/b2b to learn more. Senior Analyst and Product Manager Chris Visser x4731 cvisser@nada.org Automotive Dealers, Auctions, Insurance Dan Ruddy x4707 druddy@nada.org Credit Unions, Fleet, Lease, Rental Industry, Government Doug Ott x4710 dott@nada.org Business Development Manager James Gibson x7136 jgibson@nada.org Financial Industry, Accounting, Legal, OEM Captive Steve Stafford x7275 sstafford@nada.org PR Manager Allyson Toolan x7165 atoolan@nada.org NADA Used Car Guide 8400 Westpark Drive McLean, VA nada.com/b2b 14

15 Commercial Truck Guidelines 2014 NADA CONSULTING SERVICES NADA s market intelligence team leverages a database of nearly 200 million transactions and more than 100 economic and market-related series to describe the factors driving current trends to help industry stakeholders make more informed decisions. Analyzing data at both wholesale and retail levels, the team continuously provides content that is both useful and usable to dealers, financial institutions, businesses and consumers. Complemented by NADA s analytics team, which maintains and advances NADA s internal forecasting models and develops customized forecasting solutions for clients, the market intelligence team is responsible for publishing white papers, special reports and the Commercial Vehicle Blog. Throughout every piece of content, the team strives to go beyond what is happening in the industry to confidently answer why it is happening and how it will impact the market in the future. Senior Director, Vehicle Analysis & Analytics Jonathan Banks x4709 jbanks@nada.org Senior Analyst and Product Manager Chris Visser x4731 cvisser@nada.org ADDITIONAL RESOURCES Guidelines Updated monthly with a robust data set from various industry sources and NADA s own proprietary analytical tool, Guidelines provides the insight needed to make decisions in today s market. White Papers NADA s white papers and special reports aim to inform industry stakeholders on current and expected used vehicle price movement to better maximize today s opportunities and manage tomorrow s risk. NADA Perspective Leveraging data from various industry sources and NADA s analysts, NADA Perspective takes a deep dive into a range of industry trends to determine why they are happening and what to expect in the future. Commercial Vehicle Blog Written and managed by Senior Analyst Chris Visser, the Commercial Vehicle Blog analyzes market data, lends insight into industry trends and highlights relevant events. Connect with NADA Read our Blog nada.com/commercialtruck Follow Us on Find Us on Facebook Facebook.com/NADAUsedCarGuide Watch Us on YouTube Youtube.com/NADAUsedCarGuide Disclaimer: NADA Used Car Guide makes no representations about future performance or results based on the data and the contents available in this report ( Guidelines ). Guidelines is provided for informational purposes only and is provided AS IS without warranty or guarantee of any kind. By accessing Guidelines via or the NADA website, you agree not to reprint, reproduce, or distribute Guidelines without the express written permission of NADA Used Car Guide. NADA Used Car Guide 8400 Westpark Drive McLean, VA nada.com/b2b 15