The summer lull in auction volume ended in September, with the number of sleeper tractors sold increasing to a level last seen in early spring. Pricing was not notably impacted, with our benchmark model bringing money similar to last month.
Specific auction performance of our benchmark model was as follows:
MY2013: $36,181 average; $181 (or 0.5%) higher than August
MY2012: $28,799 average; $3,221 (or 10.1%) lower than August
MY2011: $27,498 average; $98 (or 0.4%) higher than August
Looking at the year-to-date trend, depreciation in the auction lanes remains mild to moderate. Since January, trucks of model year 2013 have lost about 22% of their value, trucks of model year 2012 have lost about 25% of their value, and trucks of model year 2011 have lost about 24% of their value. These figures translate to an overall monthly loss of about 2.6%, which is substantially better than the nearly 5% average monthly loss in the second half of 2015. Of course, trucks sold this time last year were bringing more than 30% more money than they are now.