With final March numbers collected, we can validate our earlier estimates. Three to five year-old sleepers continued to trend lower year-over-year. Average pricing for this cohort in March was $61,371 - $1,109 (or 1.8%) lower than February. First quarter pricing for this group is running $5,216 (or 7.6%) lower than in the same period of 2016. Depreciation averaged 3.0% per month in the first quarter, identical to last year, and about a full point higher than our initial estimate.

Average pricing by age was as follows:

3 year-old trucks: $79,558 - $2,719 (or 3.5%) higher than February

4 year-old trucks: $59,654 – $5,700 (or 8.7%) lower than February

5 year-old trucks: $44,900 - $347 (or 0.8%) lower than February

Looking at individual models, the Peterbilt 579, Kenworth T680, Volvo VNL 730/780, and Freightliner Cascadia outperformed the market average in the first quarter. When equipped with an ISX engine, the two PACCAR models perform strongly. The Cascadia’s specification of choice appears to be the DD15 engine paired with the DT12 transmission.

Stay tuned for April auction results next week.