Click to enlarge.Demand for used trucks with desirable specs and mileage is still strong, and there were more buyers on dealer lots in February compared with January – and they continued to pay “strong money,” according to the most recent J.D. Power Commercial Truck Guidelines market report.
Regarding Class 8 trucks at auction, volume of J.D. Power’s benchmark model was up moderately in February, an encouraging data point in a month with few auctions on the calendar, the report states.
- Model year (MY) 2016: $46,300 average; $5,595 (10.8 percent) lower than January
- MY 2015: $39,600 average; $475 (1.2 percent) higher than January
- MY 2014: $30,300 average; $800 (3.8 percent) lower than January
- MY 2013: $27,575 average; $2,119 (7.1 percent) lower than January
- MY 2012: $24,400 average; $225 (0.9 percent) higher than January
“In the first two months of 2019, 4- to 6-year-old examples of our benchmark model brought 5.8 percent more money than in the same period of 2018. Going forward, expect year-over-year comparisons to look less impressive this year because the market was strong for all of 2018,” the report states.
In the retail market, the average sleeper tractor retailed last month was 69 months old, had 470,528 miles and brought $55,817. Compared with January, the average sleeper was one month newer, had 3,257 (0.7 percent) more miles and brought $556 (1.0 percent) less money. Compared with February 2018, this average sleeper was identical in age, had 12,211 (2.7 percent) more miles and brought $7,225 (14.9 percent) more money. February’s average pricing was as follows:
- MY 2017: $89,841; $4,042 (4.3 percent) lower than January
- MY 2016: $71,897; $5,681 (7.3 percent) lower than January
- MY 2015: $58,247; $3,293 (5.4 percent) lower than January
“The month-over-month drop in average pricing is due mainly to an increased number of trucks with less-desirable specs and mileage sold in February. Individual trucks did not lose an appreciable amount of value,” according to J.D. Power.
Class 8 sales per dealership was 4.3 in February, a 0.4 truck increase from an “unusually low” January and sales activity remains constrained by a limited supply of late-model, low-mileage trucks, the report states.
To read the full report, CLICK HERE.
