March Wholesale data shows that Class 6 conventionals continued to appreciate through the first quarter of 2013. Class 5’s also saw an uptick in March, after holding steady for three months. Class 4’s saw a minor drop in March, putting that segment back to where it was in November of 2012.
In terms of volume, the first quarter of 2013 has seen substantially fewer Class 6 trucks sold than the fourth quarter of last year. This difference is most likely due to the timing of fleet trades– in essence, a supply-side rather than demand-side explanation. Class 5 saw a moderate uptick in volume in March after holding steady from November, 2012 to February, 2013. As such, March’s price increase for that segment looks even more solid. Class 4 saw a very substantial increase in March volume, which likely explains the decrease in pricing. We expect continued general upward movement in Class 4 in the short term.
We will continue to closely monitor all segments of the medium duty market and provide real-time updates.