In my last blog post, we took a quick look at the current retail sleeper market. Now we’ll look at the other piece of the puzzle, the wholesale market.

Data reported to ATD/NADA from dealers and auctions shows that the average Class 8 sleeper sold wholesale in February for $24,481. Average mileage was 733,997, and average age was 95 months.

Compared to last month, February’s results were $683 (or 2.8%) higher on price, 18,651 (or 2.5%) higher on price, and 5 months (or 5.0%) younger.

Year-over-year, February 2013’s results were $15,834 (or 39.3%) lower on price, 164,685 (or 22.4%) higher on mileage, and 27 months (or 28.4%) older.

The year-over-year results are eye-opening. Since the 4th quarter of 2012, age and mileage have been increasing notably. Last month’s average age, at 100 months, was the second-highest we’ve seen since the recovery began (the highest was in February 2010, at 107 months). And this month’s average mileage set a new record for that period.

There is still a strong negative correlation between price and mileage, so we can attribute the year-over-year difference in price mainly to the difference in mileage. Basically, this means that a truck with given mileage sold today will bring comparable money to a truck sold with similar mileage a year ago. So the wholesale market appears to be absorbing larger numbers of older trucks with higher mileage. But trucks at given mileage levels are not depreciating notably.

See the graphs for detail, and stay tuned for deeper analysis in the April edition of Guidelines, available early next month.