There has been little monthly depreciation in the cabover market since the beginning of the year. Changes in the monthly pricing averages of our benchmark group have been due mainly to proportional changes in average mileage. On a mileage-adjusted basis, this group has showed stability in 2016.

Our benchmark group of 4-7 year-old Class 3-4 cabovers averaged $15,325 in September, for a $1,614 (or 11.8%) gain over August. Year-over-year, September 2016 was $837 (or 5.2%) lower than September 2015. Year-to-date, 2016 is running $766 (or 4.7%) behind 2015.

Monthly depreciation for this group is averaging about 2%, which is slightly better than historical norms, but well behind last year’s almost nonexistent monthly depreciation. Higher volume of trucks sold this year is the main factor behind the negative pricing performance. Still, this segment is performing well compared to other medium duty segments.