In the auction market, auction volume pulled back in June, and pricing was lower. “After more than two years of expansion, it appears the nation may have finally reached and then exceeded the total number of trucks needed to move freight,” the report states.
- Model year (MY) 2016: $35,750 average; $750 (2.1 percent) lower than May
- MY 2015: $26,750 average; $9,250 (25.7 percent) lower than May
- MY 2014: $25,600 average; $3,150 (11.0 percent) lower than May
- MY 2013: $19,000 average; $4,500 (19.1 percent) lower than May
- MY 2012: $16,475 average; $2,275 (12.1 percent) lower than May
- MY 2011: $11,975 average; $5,790 (32.6 percent) lower than May
In the first six months of 2019, 4- to 6-year-old examples of the benchmark model brought 1.4 percent less money than in the same period of 2018, marking the first negative year-over-year comparison since fall of 2017, according to the report.
J.D. Power says the average sleeper tractor retailed in June was 69 months old, had 460,840 miles and brought $57,211. Compared with May, the average sleeper was identical in age, had 4,713 (1.0 percent) more miles and brought $356 (0.6 percent) less money. Compared with June 2018, this average sleeper was 1 month newer, had 9,733 (2.2 percent) more miles and brought $5,295 (10.2 percent) more money.
Trucks three to five years of age, June’s average pricing was as follows:
- MY 2017: $84,849; $8,941 (9.6 percent) lower than May
- MY 2016: $69,377; $1,080 (1.6 percent) higher than May
- MY 2015: $54,750; $2,387 (4.2 percent) lower than May
“Year-over-year, late-model trucks sold in the first six months of 2019 brought 11.5 percent more money than in the same period of 2018. Depreciation in the first six months of 2019 averaged 1.1 percent per month, compared with 1.0 percent in the same period of 2018,” the report states.
J.D. Power says Class 8 sales per dealership dropped by a tenth to 3.8 in June. Dealers are selling an average of 12.5 percent fewer trucks in 2019 compared with the same period last year.
Medium-duty sales volume and pricing were generally stable to lower in June, according to J.D. Power.
For Class 3-4 cabovers, June’s average pricing was $13,898, $3,280 (22.5 percent) lower than May and $839 (6.4 percent) higher than June 2018. Compared with May, June’s average age and mileage was closer to trend, which J.D. Power says largely explains the drop in average selling price. In the first 6 months of 2019, pricing is running an average of 5.9 percent higher than the same period of 2018. Class 6 trucks averaged $18,575 in June, which is $2,327 (11.1 percent) lower than May and $3,208 (14.7 percent) higher than June 2018.
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