The volume of 4-7 year-old trucks sold at auction in October pulled back to typical levels after the massive surge in September. Trades and bankruptcy liquidations may have relaxed this month, although there may have been more trucks unsold. In any case, the market decided pricing is low enough for the time being. See below for detail.
Model year 2015: $24,171 average; $1,764 (6.8%) lower than September
Model year 2014: $21,622 average; $259 (1.2%) higher than September
Model year 2013: $19,941 average; $2,888 (16.9%) higher than September
Model year 2012: $16,580 average; $3,495 (26.7%) higher than September
Model year 2011: $14,843 average; $3,379 (29.5%) higher than September
In the first ten months of 2019, our benchmark group of 4-6 year-old trucks brought 10.7% less money than in the same period of 2018. This year’s average is heavily skewed by market strength early in the year. If we narrow our comparison to September-October 2019 vs. September-October 2018, the variance increases to 26.8%.
Average monthly depreciation for 4-6 year-old trucks has stabilized at 3.8%. In the same period of last year, there had been essentially no depreciation.
See the November edition of our Guidelines monthly market update for additional analysis.