The average sleeper tractor sold wholesale (auction, dealer-to-dealer, and dealer-to-wholesaler combined) in October was 80 months old, had 563,349 miles, and brought $30,863. Compared to September, trucks sold in October were 3 months older, had 11,668 (or 2.0%) fewer miles, and brought $4,736 (or 13.3%) less money. Compared to October 2015, the average sleeper sold this month was identical in age, had 29,882 (or 5.0%) fewer miles, and brought $5,561 (or 15.3%) less money. As in the retail channel, October was an off month for volume, and depreciation was across-the-board. See graph for detail.

Narrowing our focus to the more instructive 3-5 year-old group, pricing declined moderately heavily from September. Average wholesale pricing for this cohort was $36,080 - $2,735 (or 7.0%) lower than September. Average mileage for this group was 484,665 – 14,852 (or 3.0%) lower than September. Compared to October 2015, trucks sold this month had 22,584 (or 4.9%) more miles, and brought $9,705 (or 21.2%) less money. See graph for detail.

Average pricing by model year was as follows:

MY2014: $50,747 - $1,671 (or 3.2%) lower than September

MY2013: $30,402 – $3,077 (or 9.2%) lower than September

MY2012: $27,090 - $3,457 (or 11.3%) lower than September

Since January, trucks three to five years of age have lost about $12,500 (or 25%) of their value, which translates to about 2.5% per month – slightly better than our early forecasts of 3-5% per month. In terms of individual model years, 2014’s have lost about 22% of their value since January, 2013’s have lost about 26%, and 2012’s have lost about 25%.

Look for conditions to remain similar through the end of the year.