Commercial Truck Blog

Medium Duty Market Flat in April

Medium duty sales volume was up across the board in April, while pricing was mixed. Cabovers were essentially flat, Class 4 conventionals had an off month, and Class 6 conventionals were down.

Starting with Class 3 – 4 cabovers, April’s average pricing came in at $14,658. This figure is $286 (1.9%) lower than March, and $250 (1.7%) higher than April 2018. Compared to March, mileage was up mildly and volume was up notably. In the first 4 months of 2019, pricing is running an average of 2.0% higher than the same period of 2018. Cabovers have depreciated 5.8% per month this year – aggressive, but not out of line with 2018’s 5.3% per month figure.

Looking at conventionals, Class 4’s averaged $17,779 in April. This figure is $2,145 (10.8%) lower than March, and $542 (3.1%) higher than April 2018. In the first 4 months of 2019, pricing is running an average of 2.0% higher than the same period of 2018. This segment has lost an average of 6.4% per month this year, compared to 6.5% last year.  

Class 6’s averaged $26,481 in April. This figure is $3,724 (12.3%) lower than March, and $6,918 (35.4%) higher than April 2018. A newer mix of trucks sold in the most recent two months has skewed our averages, making 2019 data look more positive than it really is. In the first 4 months of 2019, average pricing for our 4-7 year-old cohort is running an average of 23.5% higher than the same period of 2018, and month-over-month pricing actually shows an increase of 7.5% per month (compared to a 4.3% per month decrease for the same period of 2018). On an apples-to-apples basis, the Class 6 market has not actually improved that much. Individual trucks are depreciating at about 4% per month.