Volume was down considerably in May, which made analysis difficult and resulted in averages that are not necessarily representative of market conditions. A more complete analysis suggests depreciation has relaxed, and the market appears to be firming. See below for average pricing detail for our benchmark truck.
Model year 2016: $25,545 average; $545 (2.2%) higher than April
Model year 2015: $22,345 average; $5,348 (24.2%) higher than April
Model year 2014: $15,940 average; $215 (1.4%) higher than April
Model year 2013: $12,097 average; $1,653 (12.0%) higher than April
Month-over-month, our benchmark group of 4-6 year-old trucks brought 9.1% more money. In the first 5 months of 2020, pricing averaged 26.4% lower than the same period of 2019. Depreciation in 2020 is now averaging 0.9% per month, which is more of a mathematical anomaly due to low volume than a representation of actual market conditions. However, as stated above, we do feel the market is firming, and dynamics should continue to move positive as the country continues to gradually reopen.