Following a return to notable depreciation in September, October’s data shows a mild decline month-over-month.

The average sleeper tractor retailed in October was 72 months old, had 463,378 miles, and brought $49,661. Compared to September, this average tractor was 2 months newer, had 10,979 (or 2.4%) more miles, and brought $61 (or 0.1%) less money. Compared to October 2015, the average sleeper was 5 months older, had 23,471 (or 4.8%) fewer miles, and brought $10,192 (or 17.0%) less money. See graph below.

Narrowing our focus to sleeper tractors three to five years of age, average pricing for this cohort was $55,541 - $1,151 (or 2.0%) lower than September. Average mileage was 429,288 – 15,292 (or 3.7%) higher than September. Compared to October 2015, average pricing was $9,896 (or 15.1%) lower, and average mileage was 14,805 (or 3.3%) lower.

Since January, three to five year-old sleepers have lost about $14,500 (or 21%) of their retail value, which translates to just over 2% per month. In terms of individual model years, three-year-old trucks have lost about 19% of their value since January, four-year old trucks have lost about 19%, and five-year-old trucks have lost about 24%. See graph below.

Retail depreciation still continues to outperform our original forecast of 3-4% per month. Based on returning supply, there will be more downward pressure on pricing than upward over the long term.