Pricing continued to slip across the used truck sector in November, J.D. Power announced in its December Commercial Truck Guidelines report.
Mixed results in auction market, mostly driven by mileage
In the auction sector, volume was up slightly. Depreciation was mild, signifying mostly stability across the channel.
Looking at late-model sleeper tractors, J.D. Power reports average auction pricing for its benchmark truck In November was:
- Model year (MY 2023: $58,847 (October data not available for comparison)
- MY 2022: $43,998; $905 (2.1%) higher than October
- MY 2021: $37,188; $428 (1.2%) higher than October
- MY 2020: $24,065; $6,801 (22.0%) lower than October
- MY 2019: $21,865; $360 (1.6%) lower than October
Selling prices in October auctions for J.D. Power’s benchmark truck aged 4 to 6-years-old averaged 4.9% lower than October 2025, and 6.2% lower than November 2024. Compared to the strong pre-pandemic market of 2018, the company states the current nominal pricing is 5.2% lower, but down 29.6% in real numbers. Relative to the last market low in late 2019, prices are 44.8% higher nominally and 14.5% higher when adjusted for inflation.
J.D. Power adds Monthly deprecation for this group is averaging 2.3%.
“Late-model sleepers with average mileage continue to depreciate at a historically typical rate. Lower-mileage trucks remain scarce and continue to command a premium price at auction and retail,” the company states.
As usual, J.D Power also notes 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 data is available in the company’s other reports.
Retail pricing slips too, but stays ahead of the 2024 levels
Within the retail sector, pricing slipped down more, driven by a large number of higher mileage trucks in the marketplace.
Looking at the overall mix of trucks retailed in November, our dataset of sold sleeper tractors averaged 57 months old and 451,790 miles. Compared with October 2025, this group was two months newer and had 18,054 (4.2%) more miles. Compared with November 2024, this dataset averaged six months newer and 14,174 (3.2%) fewer miles. Older trucks appear to be selling in slightly higher numbers in the 4th quarter.
November’s average pricing for late-model trucks was as follows:
- MY 2024: $114,005; $9,764 (7.9%) lower than October
- MY 2023: $82,598; $9,883 (10.7%) lower than October
- MY 2022: $69,076; $1,661 (2.3%) lower than October
- MY 2021: $55,727; $5,315 (10.5%) higher than October
- MY 2020: $35,901; $5,630 (13.6%) lower than October
[RELATED: ACT registers drop in used truck volume in November]
J.D. Power reports sleeper tractors aged 3- to 5-years sold for 2.9% less than in October 2025, but 8.5% more than in November 2024. Late-model sleepers are now bringing 7.0% less money than the last strong pre-pandemic period of early 2019 in nominal dollars, or 28.0% less when adjusted for inflation.
Compared with the last weak pre-pandemic period of late 2019, J.D. Power states late-model sleeper values are running 20.6% higher in nominal dollars or 4.6% lower in real dollars. Depreciation in 2025 to date is averaging well under 1% per month, although if the company states when looking at just the second half of 2025, that average increases to 2.5%.
As for volumes, retail sales per rooftop averaged 2.7 in November, down 0.5 from September (the last month for which J.D Power had consistent data) and identical to November 2024. Total reported retail sales decreased 15.7% from September and were 25.0% lower than November 2024, the company adds.
“Market movement will be minimal as we close out 2025 and enter the slow selling month of January. Capacity and active truck utilization figures continue to trend in the right direction, and we’ll be watching for this dynamic to eventually kick the cycle back into an acquisition phase,” the company states.
For more information, and to read the entirety of this month’s report, please CLICK HERE.
