Commercial Vehicle Market Nears Rebalancing as New Sales Rise, Used Prices Climb
Event summary
- New commercial vehicle prices edged up 0.8% QoQ to $58,965, with sales per dealer rising 14.8% QoQ and 14.8% YoY.
- Used commercial vehicle prices increased 2.4% QoQ and 3.3% YoY to $37,024, with median mileage declining 5.0% QoQ.
- Days-to-Turn (DTT) for new vehicles dropped to 199 days (–1.5% QoQ) but remained elevated (+30.1% YoY).
- BEV pricing showed volatility: new BEV prices rose 0.8% QoQ but fell 1.8% YoY, while used BEV prices dropped 2.9% QoQ.
The big picture
The commercial vehicle market showed signs of rebalancing in Q4 2025, with new vehicle sales strengthening and used vehicle prices rising amid declining median mileage. The market's shift toward equilibrium reflects broader industry trends of operational demand recovery and inventory optimization, though elevated DTT metrics signal ongoing adjustments. The BEV segment remains volatile, highlighting the need for further market maturation.
What we're watching
- Inventory Alignment
- Whether the early-stage alignment between new vehicle inventory and buyer demand will sustain as DTT remains historically high.
- Used Market Dynamics
- How the shift in used vehicle median mileage and pricing will impact buyer behavior and market stability.
- BEV Market Volatility
- The pace at which the BEV segment will stabilize, given its small data sets and volatile pricing trends.
Related topics