Sales volumes at used truck auctions and on dealer lots jumped in March and pricing was also nudging upward, J.D. Power reported Wednesday in its April Commercial Truck Guidelines report.
"March's auction results were promising, and early April results look to continue that positive trend," the company states. "We are still in a pull-ahead freight environment, as industries import goods and products in advance of full implementation of tariffs."
Auction volumes were up in March, which was seasonally expected, and pricing went up, too. For late-model sleeper tractors, J.D. Power's average pricing was:
- 2023 model: $80,263; 1.8%, or $1,437 lower than February.
- 2022 model: $59,610; 2.6%, or $1,522 higher than February.
- 2021 model: $46,588; 21.5% or $8,248 higher than February.
- 2020 model: $34,489; 7.1% or $2,642 lower than February.
- 2019 model: $28,498; 15.5%, or $3,826 higher than February.
Selling prices for four- to six-year-old trucks averaged 5.3% more than in February and 29.3% higher than in March 2024. Pricing for the group is 17.9% higher than the strong pre-COVID period in 2018 in nominal figures and 7% lower if adjusted for inflation. It's 88.6% higher than 2019's market low (51.9% higher when adjusted for inflation).
Five-year-old trucks recovered from two months of low selling prices, making monthly depreciation flat for 2025 to date.
On retail lots, sleeper pricing increased and daycab pricing stabilized. The average sleeper tractor sold in March was 62 months old with 433,436 miles. It cost $66,647. February's average sleeper was nine months older with 3,844 more miles and cost $6,560 less, J.D. Power states.
March's average pricing for late-model trucks was:
- 2024 model: $136,523; 3.8%, or $5,344 lower than February.
- 2023 model: $105,236; 11.4% or $10,760 higher than February.
- 2022 model: $80,065; 2.6%, or $1,999 higher than February.
- 2021 model: $57,306; 2.4% or $1,319 higher than February.
- 2020 model: $50,024; 5.7% or $2,750 higher than February.
J.D. Power states 3- to 5-year-old sleepers brought in 2.4% more than in February and 25.7% more than a year ago. Late-model sleepers are now bringing 24.1% more than the last strong pre-pandemic period of early 2019 in nominal dollars, or 2.3% less when adjusted for inflation. They are 61% higher than in the last weak pre-pandemic period, of 29.4% higher when adjusted for inflation. These trucks gained an average of 2.7% each month this year, the company adds.
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Daycab truck pricing was flat in March month-over-month and down 11.7% over 2024.
"Price stability is encouraging," J.D. Power says, "but there are still more trucks available than the market demands."
Sales per rooftop were up in March to 3.1 trucks per dealership, up from 1.9 in February. This is the highest tally since June 2023 and suggests a better demand environment. The total number of retail sales was 25.7% higher than in February and 8% higher than in March 2024, the company states.
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"Freight spot rates have not increased, suggesting any short-term increase in demand has been absorbed by existing capacity," J.D. Power states. "As such, increased selling prices for used trucks could largely be attributed to one-for-one trades by individuals and small fleets confident enough in the current environment to trade in their old truck for a newer one, with an assist from tighter supply."
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