James Jaillet reports in Commercial Carrier Journal that Acting EPA Administrator Andrew Wheeler plans to enforce the existing 300-unit limit on completed, pre-emissions glider kits until his agency completes a formal rule rescinding the limit. Wheeler disagrees with his predecessor, Scott Pruitt, that the limit constituted an "extremely unusual circumstance" that justified non-enforcement of the cap while the ruling was finalized. Bottom line: The glider limit will be rescinded, but not just yet. 

To recap, here's a rough timeline of the glider production cap:

October 2016: EPA and NHTSA finalize the Phase 2 emissions and fuel economy standards, including the 300-unit limit on glider production

November 2017: Then-EPA Administrator Scott Pruitt signs a proposal to eliminate the ban on glider production, based in part on a controversial study of pollution from completed gliders running pre-emissions engines

July 2018: Pruitt declares his agency will not enforce the 300-unit cap

July 2018: Pruitt resigns, replaced by Deputy Administrator Andrew Wheeler 

July 2018: Wheeler states the agency will enforce the existing production cap until a final rule is issued which will presumably eliminate the cap

What does all this mean for used glider values? Demand will remain strong, so any short-term decrease in supply will support pricing. Even after the ban is lifted, we forecast demand to outstrip supply, so this dynamic should remain in place for the foreseeable future.