Class 8 retail was 'dismal' in November, J.D. Power says, saying retail sales per rooftop came in at 2.2 trucks, the lowest result ever recorded.
Industry analyst Chris Visser says that increasing interest rates, declining equity and a cooling freight market all contributed to the weak market. The average sleeper truck sold in November was 73 months old with 469,492 miles and brought in $89,810. This was three months older than October's average truck with more miles and about 6 percent cheaper.
November pricing was as followed for up to six-year-old trucks:
At auction, pricing for clean trucks with average to low mileage has been stable since late in the third quarter. Average pricing for the benchmark truck in November was:
November's auctioned trucks averaged 3 percent more money than October, but 27 percent less than in November 2021. Year to date, three- to six-year-old sleeper trucks depreciated 4.7 percent per month on average. Monthly depreciation, as well as pricing, depends on mileage and specifications.
