With about 75% of our September data collected, NADA is forecasting a decline of approximately $1000 in the average retail price of a used sleeper tractor. This decrease would represent a 2.0% decrease vs. August, and would leave this September above last September by approximately $500. Mileage is estimated to be similar to August, with an upward move of less than 5000.

Average pricing has been fluctuating in the low single digit percentage range for most of 2012, so a delta of this size does not point to a meaningful shift in market dynamics. Qualitative research points to increased negative sentiment in the used truck market, but so far this sentiment has not translated into appreciably lower pricing. We foresee flat to mildly downward results for the remainder of the year.