Auction volume pulled back in June, and pricing was notably lower. After more than two years of expansion, it appears the nation may have finally reached and then exceeded the total number of trucks needed to move freight. As is typical in this type of environment, only the lowest-mileage trucks are currently bringing strong money. See below for detail.
- Model year 2016: $35,750 average; $750 (2.1%) lower than May
- Model year 2015: $26,750 average; $9,250 (25.7%) lower than May
- Model year 2014: $25,600 average; $3,150 (11.0%) lower than May
- Model year 2013: $19,000 average; $4,500 (19.1%) lower than May
- Model year 2012: $16,475 average; $2,275 (12.1 %) lower than May
- Model year 2011: $11,975 average; $5,790 (32.6%) lower than May
In the first 6 months of 2019, 4-6 year-old examples of our benchmark model brought 1.4% less money than in the same period of 2018. This is the first negative year-over-year comparison since the Fall of 2017. The number of 4-6 year-old trucks sold was more in line with recent trends after an unusually high May. Monthly depreciation for this cohort is now averaging 3.3%, which is moderately higher than what we were expecting at this point.
Stay tuned for results from the retail side of the market next week.