The Q2 2024 White Metal Market Report reviews the state of the used vehicle market and offers predictions for the rest of the year. The used vehicle market, particularly affected by the pandemic and supply chain disruptions, shows signs of stabilizing in 2024. Although the year started slowly, the market picked up in spring, and prices are beginning to form patterns for the first time since before the pandemic. However, prices across the white metal segment remain 7–10% lower than the previous year. Supply remains tight due to limited new vehicle availability, and fleets are holding onto older assets longer.

Different vehicle segments present varied performance. Passenger vehicles and light-duty trucks are stable, with prices trending slightly upward. On the other hand, Class 8 trucks, particularly sleeper units, are soft due to weak freight demand, while Class 6 and 7 trucks have seen significant price declines of 50–60%. Class 3 to 5 vehicles are more balanced, with prices down 15–25% year-over-year.

Interest rates have risen sharply, limiting access to financing and leaving many companies cash-strapped. Despite these challenges, the report anticipates continued stability in the market, with some price declines but more consistency overall. EV adoption may face difficulties as infrastructure and costs remain obstacles, and fleets may turn to alternative fuels like hydrogen. The report remains cautiously optimistic about the remainder of 2024, with potential for stable growth barring unforeseen global disruptions.