Volume rose substantially in June, and was in fact the highest we’ve seen for our benchmark group since at least late 2015. Pricing was fairly solid, with month-over-month declines driven mainly by large packages of identical trucks. Newer, low-mileage trucks now look to be increasing in value. See below for average pricing detail for our benchmark truck.
Model year 2016: $27,313 average; $1,768 (6.9%) higher than May
Model year 2015: $21,908 average; $440 (2.0%) lower than May
Model year 2014: $15,908 average; $32 (0.2%) lower than May
Model year 2013: $14,043 average; $1,946 (16.1%) lower than May
Month-over-month, our benchmark group of 4-6 year-old trucks brought 4.3% less money. In the first 6 months of 2020, pricing averaged 23.9% lower than the same period of 2019. Depreciation in 2020 is still averaging a very low 0.9% per month. June’s results essentially split the difference between April’s drop and May’s increase, which explains the unchanged depreciation average.
Freight data for dry van and reefer loads has fully recovered, and other segments continue to improve. There’s no shortage of supply, but demand continues to lift off the bottom.