TRUCK BLUE BOOK WORKSHOP OCTOBER 12 - 14, 2008
The intimate thirty-third annual Truck Blue Book Workshop once again convened over 60 invited executive leaders from dealers, truck and component manufacturers, suppliers and industry experts to Aspen, CO. During the two days of interactive discussion the group worked to hash out valuation trends, dissect key issues and gaze into the crystal ball of the used commercial truck marketplace.
The full Truck Workshop Report will be released soon, but some telling highlights did emerge.
- Caterpillar engines’ fuel economy is not off the pace for the rest of the industry. Fleets in attendance attested their Cat powered highway tractors were on par with competitive makes.
- Lively discussion occurred over Caterpillars exit from the U.S. engine market. In the end it was decided a value deduction was not in order. It was agreed Cat has had a very positive reputation of support for their products, and it is not as if Cat is not going out of business.
- While in Aspen the news broke of the discontinuation of the Sterling brand in 2009. Wanting to fully review this without a knee jerk reaction a discussion on valuation impact will be taken up very soon.
- The Michelin X-1 radials generated a lively debate from dealers and fleets alike as the cost savings exist, but what value is added by the used truck purchaser?
- Value updates for reduced idle solutions from Thermo King and Webasto were discussed. A key issue is so many products without a national support network exist, how do we fairly asses value?
- Average five model year old fleet highway tractor retail values declined $9,100 from the 2007 workshop
- Average retail values for 2005 fleet highway tractors from October 2008 to January 1, 2009 were forecasted to decline an average of $5,800
The event was a great success, thanks to all the participants. To view pictures from the event in Apsen click here.
