
December is usually one of the highest-volume months for auctions, J.D. Power says, but in 2024, December brought the lowest volume of the year, the company reported Wednesday in its January 2025 Commercial Truck Guidelines report.
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That said, pricing ticked up during the month, with daycabs leading the way. Sleepers depreciated moderately, coming in 3.1% higher than November. Average pricing for the benchmark truck in December was:
- 2021 trucks: $47,002; 2.3%, or $1,073, higher than November.
- 2020 trucks: $41,391; 12.4%, or $4,570, higher than November.
- 2019 trucks: $27,250; 7.4%, or $2,192, lower than November.
- 2018 trucks: $20,286; 8.1%, or $1,790, lower than November.
Pricing is 2.4% lower than the pre-pandemic period, 2018, in nominal figures (22% lower if adjusted for inflation). However, it's 53% higher than the last market nadir in late 2019 (22% higher, adjusted for inflation). Stable pricing since the second quarter combined with December's uptick sent J.D. Power's monthly depreciation average for 2024 down to 0.8%.
Sleepers
The average sleeper tractor bought in December was 61 months old with 395,691 miles and cost $57,010. Compared with November's average sleeper, December's was two months newer with 9.6% fewer miles and 1.5% more expensive.
December's average pricing for late-model trucks was:
- 2023 trucks: $113,394, 5.3%, or $5,733, higher than in November.
- 2022 trucks: $64,681, 25.8%, or $22,471, lower than in November.
- 2021 trucks: $59,707, 1.3%, or $747, higher than in November.
- 2020 trucks: $43,080, 4.4%, or $1,990, lower than November.
- 2019 trucks: $38,580, 7.6%, or $2,172, higher than November.
- 2018 trucks: $36,268, 28.4%, or $8,014, higher than November.
J.D. Power notes a large number of identical trucks were reported sold in December at the same unusually low selling price, artificially deflating the average for model year 2022 trucks. The company says it did not consider those datapoints reflective of the market and have not included them in any other averages.
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Three- to five-year-old sleepers brought 2.2% less money in December than in the month before, and 4.1% less than in December 2023. The price for late-model sleepers is now 15% lower than the last strong pre-pandemic period, 2019, in nominal dollars, or 34% lower when adjusted for inflation. Compared with the last weak pre-pandemic period, late-model sleeper values are running 10% higher in nominal dollars or 15% lower in real dollars. Depreciation averaged 2.2% in 2024, which J.D. Power says is historically typical.
Daycabs
Daycab trucks brought 7.3% more money in December than in November, J.D. Power says, but 5% less money than in December 2023. Monthly depreciation in 2024 averaged 2.6% in 2024, with daycab pricing stabilizing late in the third quarter and then ticked upwards at the end of the year. Auction price is still sliding, but stability in the retail channel may mean the devaluation is winding down.
Retail sales
Dealers sold three trucks per rooftop in December, which J.D. Power says is an unexpectedly strong result. Retail buyers still face negative equity and a tighter credit market, but more activity in the freight environment could help bring buyers back to lots.
For more information, and to read the entirety of this month’s report, please CLICK HERE.