Auction volume of our benchmark group of sleeper tractors was up moderately in November, following a lull in October. The increase was driven primarily by a high volume of 2011 Cascadias. Outside of that group, volume was similar to October. See graph below for detail.

Specific auction performance of our benchmark model was as follows:

MY2013: $37,500 average; $4,474 (or 13.5%) higher than October

MY2012: $24,428 average; $2,591 (or 9.6%) lower than October

MY2011: $23,618 average; $2,036 (or 7.9%) lower than October

Depreciation has generally accelerated in the second half of 2016. Since January, trucks of model year 2013 have lost about 22% of their value, trucks of model year 2012 have lost about 37% of their value, and trucks of model year 2011 have lost about 31% of their value. These figures translate to an overall monthly loss of about 3%, which is still 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. See graph below for detail.

Based on the new truck delivery history going back five years, expect auction volume to continue to trend upward, and pricing to trend downward.