The lighter end of the medium duty conventional market performed better than the heavier end for the second month in a row. Our benchmark group of 4-7 year old Class 4 conventionals brought less money than in September, while Class 6’s increased – but not enough to overtake Class 4’s. Volume was substantially higher for both GVW classes.

Specifically, Class 4’s averaged $19,358 in October. This figure is $3,983 (or 17.1%) lower than September, and $273 (or 1.4%) lower than October 2015. Class 6’s averaged $18,651 in October. This figure is $1,621 (or 9.5%) higher than September, and $2,064 (or 10.0%) lower than October 2015.

Average pricing for Class 4’s in 2016 to date is almost identical to the same period of 2015. Depreciation accelerated in the second half of 2015, but has so far remained stable in the same period of 2016. Steady pricing on higher volume suggests a relatively healthy market.

In the case of our Class 6 group, trucks have followed a more traditional depreciation trend, losing about 2.2% per month in 2016. This figure is moderately higher than the 1.7% monthly depreciation in the first 10 months of 2015. Year-to-date pricing is running $1,223 (or 5.6%) behind 2015.

In October, our benchmark group of Class 6 conventionals averaged $18,651. This figure is $1,621 (or 9.5%) higher than September, and $2,064 (or 10.0%) lower than October 2015.

Volume of Class 6’s sold in 2016 is substantially higher than 2015, which largely explains the greater depreciation. Still, 2.2% monthly depreciation is modestly higher than historical norms. As for Class 4’s, that group continues to outperform expectations.