February is the first month of the year with numerous auctions on the calendar. As such, this month offers useful insight on how the new year is shaping up. The volume of model year 2013-2011 sleeper tractors sold was back up to typical numbers. Also, trucks of model year 2014 outnumbered model year 2013 for the first time, signaling the supply of five-year-old trucks is ramping up.
February auction performance of our benchmark model was as follows:
MY2013: $30,250 average; $1,450 (4.6%) lower than January
MY2012: $25,000 average; $1,500 (5.7%) lower than January
MY2011: $17,000 average; $250 (1.5%) higher than January
Year-over-year, trucks four to six years of age sold in the first two months of this year brought 21.7% more money than the same period a year ago. Year-over-year gains are encouraging, but the returning supply of late-model trucks expected throughout the year should keep depreciation near our 2% per month estimate.