Volume of the most common sleeper tractors sold at auction increased dramatically in June after a depressed May. Pricing of our benchmark model decreased 2.8% compared to last month, which is somewhat higher than expectations, but much less dramatic than May’s drop.

June auction performance of our benchmark model was as follows:

MY2013: $28,000 average; $27 (0.1%) lower than May

MY2012: $23,250 average; $1,685 (6.8%) lower than May

MY2011: $20,250 average; $358 (1.7%) lower than May

In the first half of the year, trucks of model year 2011 averaged 3.7% depreciation per month, trucks of model year 2012 depreciated 1.8% per month, and trucks of model year 2013 have averaged less than 1% (low January pricing was negated by higher February through June pricing).

We did not consider May’s atypical results particularly notable, since one month does not make a trend. June’s results were on par with the longer-term trend, and we continue to view the auction market as firming.