“A massive increase in the number of 4- to 7-year-old trucks sold [at auction] in September means the floodgates were fully open this month. The industry continues to grapple with the combined effects of elevated trade-ins, an uptick in fleet bankruptcies and liquidations and a manufacturing sector impacted by the tariff war,” J.D. Power reports. “Surprisingly, selling price of trucks in this age range did not change as much as one would expect given the huge jump in trucks sold.”
- Model year (MY) 2016: $32,885 average; $660 (2.0 percent) higher than August
- MY 2015: $25,935 average; $565 (2.1 percent) lower than August
- MY 2014: $21,363 average; $88 (0.4 percent) lower than August
- MY 2013: $17,053 average; $1,447 (7.8 percent) lower than August
- MY 2012: $13,085 average; $1,740 (11.7 percent) lower than August
- MY 2011: $11,464 average; $611 (5.1 percent) lower than August
In the first nine months of 2019, 4- to 6-year-old trucks brought 8.2 percent less money than in the same period of 2018. Average monthly depreciation for 4- to 6-year-old trucks has increased to 3.9 percent, which J.D. Power says is in line with a market defined by excess supply.
In the retail channel, average to higher mileage units are depreciating more heavily as fleets don’t need as many trucks as they did last year, J.D. Power reports.
The average sleeper tractor retailed in September was 69 months old, had 457,111 miles and brought $52,249. Compared with August, the average sleeper was one month newer, had 14,616 (3.3 percent) more miles and brought $2,441 (4.5 percent) less money. Compared with September 2018, this average sleeper was one month older, had 1,974 (0.4 percent) more miles, and brought $4,203 (7.4 percent) less money, J.D. Power reports.
September’s average pricing was as follows:
- MY 2018: $111,807; $3,492 (3.2 percent) higher than August
- MY 2017: $80,022; $2,085 (2.5 percent) lower than August
- MY 2016: $62,223; $3,105 (4.8 percent) lower than August
- MY 2015: $45,487; $3,204 (6.6 percent) lower than August
“Sales per dealership pulled back notably in September to 3.9 trucks per rooftop.” J.D. Power reports. “This figure meshes with reports of weaker demand this month. Dealers are selling an average of 10.7 percent fewer trucks in 2019 compared to the same period of 2018.”
Regarding medium-duty trucks, J.D. Power reports September’s results were essentially the opposite of August’s, with cabovers and lighter conventionals performing well and heavier conventionals pulling back.
Class 3-4 cabovers’ September average pricing came in at $18,011, $2,021 (12.6 percent) higher than August, and $6,922 (62.4 percent) higher than September 2018. In the first nine months of this year, pricing is running an average of 11.9 percent higher than the same period of 2018. September’s monthly depreciation average was 0.3 percent, compared with 3.3 percent a year ago.
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