An increase in the number of new trucks delivered this year likely will create a greater volume of late-model trucks for sale, according to this month’s J.D. Commercial Truck Guidelines market report, which could put downward pressure on used truck pricing.
In the retail market, used truck pricing in August was virtually unchanged, according to the report. The average sleeper tractor sold in August was 71 months old, had nearly 455,800 miles and sold for $53,480. Compared with July, the average sleeper was three months older, had 6,109 (1.3 percent) fewer miles and brought $184 (0.3 percent) more.
J.D. Power states average prices last month were as follows:
- MY 2016: $82,884, $5,557 (7.2 percent) higher than July
- MY 2015: $62,299, $1,436 (2.3 percent) lower than July
- MY 2014: $50,333, $426 (0.9 percent) higher than July
Year over year, truckers buying late-model trucks in the first eight months of 2018 paid 7.5 percent more than in the same period a year ago. Depreciation is 0.4 percent per month this year, compared with 1.8 percent last year.
The September auction market came close to expectations, with an increase in sleeper tractors of most model years represented. However, pricing for the report’s benchmark model was mostly lower, especially for 2015 trucks, which were affected by a higher volume of trucks with higher average mileage sold last month compared with August, according to J.D. Power. The percentage drop “is not representative of what to expect in the real world,” the report states.
Model year 2015 trucks were purchased at auction for an average of $38,000, $17,750 (31.8 percent) lower than August; 2014 trucks averaged $34,750, $1,750 (4.8 percent) lower than August; 2013 trucks averaged $27,750, $22,250 (7.5 percent) lower than August; 2012 trucks averaged $26,750, $2,000 (8.1 percent) higher than August; and 2011 trucks averaged $21,750, $1,250 (6.1 percent) higher than August.
The full report can be found here.