Class 8 Auction Market Ends Year on High Note
December was a higher-volume month, which is not unusual. Pricing was stable to upwards for most trucks, despite a very large volume of 3-year-old sleepers continuing to cycle through the market. December’s results continued the strong run of the 2nd half of 2020, with average pricing better than any time since the 1st quarter of 2019. See the average pricing detail for our benchmark truck below.
- Model year 2017: $45,868 average; $306 (0.7%) higher than November
- Model year 2016: $30,485 average; $4,175 (13.7%) higher than November
- Model year 2015: $25,426 average; $547 (2.2%) higher than November
- Model year 2014: $19,661 average; $567 (2.9%) higher than November
- Model year 2013: $16,460 average; $201 (0.8%) lower than November
Month-over-month, our benchmark group of 4-6 year-old trucks brought 5.0% more money, making December second only to September in terms of average hammer price. In calendar year 2020, pricing averaged 3.5% lower than 2019 – a remarkably stable comparison considering the massive upheaval our industry saw in 2020. The 2nd half of 2020 performed even better, with late-model trucks bringing 23.9% more money than the same period of 2019. Our benchmark truck increased in value an average of 3.1% per month in 2020.
Incoming supply of trades and demand for freight should support pricing through the 2nd quarter of 2021, barring any major economic event.