Starting with Class 3-4 cabovers, pricing of our benchmark cohort dropped again in May, but this time a higher-mileage mix of trucks can’t be blamed. May’s average pricing was $16,869, which was $629 (3.6%) lower than April, and $2,118 (14.4%) higher than May 2016.

Month-over-month fluctuations aside, pricing for newer, lower-mileage trucks has been generally stable since January on average. Buyers continue to look for the newest equipment available.

The conventional market retracted in May. Both the heavier and lighter GVW segments pulled back notably, with lighter segments continuing to bring higher pricing than heavier segments.

Specifically, Class 4’s averaged $18,640 in May. This figure is $2,348 (11.2%) lower than April, and $4,360 (19.0%) lower than unusually-high May 2016. Class 6’s averaged $15,211 in May. This figure is $4,771 (23.9%) lower than April, and $2,599 (or 14.6%) lower than May 2016.

Through May, Class 4 trucks are running 2.1% ahead of the same period of 2016, with mileage averaging 1.1% higher. Pricing for Class 6 trucks is 10.2% lower, with mileage 18.1% higher.

Volume for Class 4 was moderately higher than last month, while volume for Class 6 decreased dramatically. We still see demand continuing to incrementally improve in upcoming months for trucks of all GVW classes, based on general macroeconomic trends.