Lower volumes kept depreciation consistent in the auction market in October but pricing slipped a bit in the retail space, J.D. Power announced in its November Commercial Truck Guidelines report.
Auction pricing outpaces 2024 despite monthly slip
Within the auction sector, J.D. Power reports sales volumes dipped slightly in October from September. Depreciation was steady.
Looking at late-model sleeper tractors, average auction pricing for the J.D. Power benchmark truck in October was:
- Model year (MY) 2023: Not enough data for comparison
- MY 2022: $43,093; $7,090 (14.1%) lower than September
- MY 2021: $36,760; $706 (1.9%) lower than September
- MY 2020: $30,866; $1,295 (4.4%) higher than September
- MY 2019: $22,225; $938 (4.4%) lower than September
The company states selling prices in October auctions for its benchmark truck aged 4- to 6-years-old averaged 5.5% lower than September 2025, but 1.6% higher than October 2024. Compared to the strong pre-pandemic market of 2018, current nominal pricing is 4.5% lower, but down 25.7% in real numbers. Relative to the last market low in late 2019, prices are 52.8% higher nominally and 21.0% higher when adjusted for inflation.
Monthly deprecation for this group is averaging 2.2%. J.D. Power adds late-model sleepers with average mileage continue to depreciate at a historically typical rate. Lower-mileage trucks remain scarce and continue to bring premium money at auction and retail.
[RELATED: Used market, economy ‘okay’ considering freight dynamics]
As usual, the limited volume of trucks sold each month results in swings in the raw data averages that are not necessarily reflective of actual market movement. More detailing pricing analysis is available through J.D. Power.
Retail pricing slide continues but also outpaces 2024 levels
At the retail level, older trucks were bigger movers in October and prices market wide declined for the fourth consecutive month.
Looking at the overall mix of trucks retailed in October, J.D. Power states its dataset of sold sleeper tractors averaged 59 months old and 436,365 miles. Compared with September 2025, this group was five months newer and had 21,136 (5.1%) more miles. Compared with October 2024, this dataset averaged three months newer and 20,225 (4.4%) fewer miles. But there were more retail customers looking for older trucks this month, the company adds.
October’s average pricing for late-model trucks was as follows:
- MY 2024: $123,769; $2,875 (2.3%) lower than September
- MY 2023: $92,481; $3,362 (3.5%) lower than September
- MY 2022: $70,737; $1,757 (2.4%) lower than September
- MY 2021: $50,412; $3,411 (6.3%) lower than September
- MY 2020: $41,531; $1,168 (2.9%) higher than September
Overall, sleeper tractors aged 3- to 5-years-old sold for 3.8% less than in September 2025, but 6.2% more than in October 2024, J.D. Power reports. Late-model sleepers are now bringing 5.7% less money than the last strong pre-pandemic period of early 2019 in nominal dollars, or 26.6% less when adjusted for inflation. Compared with the last weak pre-pandemic period of late 2019, the company states late-model sleeper values are running 22.4% higher in nominal dollars or 4.8% lower in real dollars.
[RELATED: Truck tonnage has largest drop in 21 months]
Depreciation in 2025 to date is averaging well under 1% per month, the company adds, “although if we look at just the most recent four months, that average increases to 2.8%.”
Retail sales per rooftop were not available in October but will be updated next month.
In forecasting the months ahead, J.D. Power states the freight analysis presented at the recent Used Truck Association (UTA) Convention confirmed what the company has been saying about the market, “specifically that any recovery will be driven by fleet downsizing assisted by accelerated removal of drivers from the industry.
“Timing and degree of recovery will depend largely on how well consumer spending on goods holds up.”
For more information, and to read the entirety of this month’s report, please CLICK HERE.
