Truck volume sold at auction returned to a more typical level in November; however, pricing was less stable. Also, the retail market continues to see mild depreciation, according this month’s J.D. Commercial Truck Guidelines market report.
At auction, model year (MY) 2015 trucks averaged $45,500, $9,500 (17.3 percent) lower than October; MY 2014 trucks averaged $32,750, $1,750 (5.1 percent) lower than October; MY 2013 trucks averaged $31,650, $3,300 (11.6 percent) higher than October; MY 2012 trucks averaged $25,345, $2,405 (8.7 percent) lower than October; and MY 2011 trucks averaged $20,625, $1,125 (5.8 percent) higher than October.
“Pricing for our benchmark model was generally lower, with less consistency from auction to auction. There was more fluctuation in pricing this month, particularly for trucks of model year 2015,” J.D. Power reports. “As we move into the winter months, there will be fewer auctions on the calendar, making market judgments less clear. We expect a typical slowdown in auction volume and mildly lower pricing in the first quarter of 2019.
In the retail market, with November data still coming in, the numbers below are October results. Average pricing for late-model trucks continues to pull back slightly, but low-mileage trucks are still garnering strong pricing.
The average sleeper tractor retailed in October was 67 months old, had 462,534 and sold for $56,690. Compared with September, the average sleeper was one month newer, had 6,876 (1.5 percent) more miles and sold for $276 (0.5 percent) more money. In October 2017, the average sleeper was six months newer, had 321 (0.1 percent) more miles and sold for $8,902 (18.6 percent) more money.
J.D. Power states average prices in October were as follows:
- MY 2016: $78,571, $811 (1.0 percent) lower than September
- MY 2015: $61,608, $2,790 (4.3 percent) lower than September
- MY 2014: $52,077, $1,094 (2.1 percent) higher than September
Year over year, late-model trucks sold in the first 10 months of 2018 and brought 9.3 percent more money compared with the same period in 2017. Depreciation is running at 0.2 percent per month in 2018, compared with 1.6 percent last year.
Class 8 sales per dealership were lower than expected in October, matching September’s 4.9, according to the report, which also states “November data points to further pullback in volume.”
To read the full report, CLICK HERE.