October was another positive month for the retail channel, with volume up incrementally over a relatively strong September, and pricing essentially unchanged.

The average sleeper tractor retailed in October was 78 months old, had 462,171 miles, and brought $47,876. Compared to September, the average sleeper was 6 months older, had 4,073 (0.9%) fewer miles, and brought $829 (1.8%) more money. Compared to October 2016, this average sleeper was 1 month newer, had 1,207 (0.3%) fewer miles, and brought $1,785 (3.6%) less money. The retail sleeper market overall averaged 7.8% lower pricing in the first 10 months of 2017 compared to the same period of 2016.

Looking at trucks three to five years of age, retail selling prices have dropped an average of 1.6% per month so far in 2017. This figure is appreciably better than the 2.1% seen over the same period of 2016.

Average pricing by age was as follows:

3- year-old trucks: $69,921; - $634 (0.9%) lower than September

4- year-old trucks: $55,000; $1,462 (6.9%) higher than September

5- year-old trucks: $41,389; - $1,197 (2.8%) lower than September

On a year-over-year basis, late-model trucks sold in the first 10 months of 2017 averaged 5.1% lower than in the same period of 2016. Thanks to the minimal depreciation since the third quarter, our year-over-year comparisons are looking more and more favorable. Demand is increasingly balancing out supply.