Retail sales data submitted by dealers and OEM’s to NADA shows that pricing in the sleeper market set a new record for an incredible fourth month in a row. This high pricing came despite a dramatic drop in volume of trucks sold. See graph below for details.

Specifically, the average sleeper tractor retailed in June brought $52,673 – a $1027 (or 1.9%) increase month-over-month, and a $3484 (or 6.6%) year-over-year. That average tractor had 566,492 miles – 32,569 (or 5.7%) more month-over-month, and 19,388 (or 3.4%) more year-over-year. Age was unchanged from last month, at 75 months. This figure is one month older than June, 2012.

As we noted, sales volume dropped dramatically in June, which makes the high pricing somewhat surprising. Diving into the data, we see that the drop in volume hit all model years save for 2010, which showed a modest increase month-over-month. As we regularly mention, the 2009-2011 model years have been entering the marketplace in greater numbers. These late-model trucks generally feature the lower mileage that brings strong money. Since these newer model years continue to represent a larger proportion of the market, the average continues to increase. Also, it appears that dealers selling the makes and models that typically bring higher money performed better than their more fleet-oriented counterparts this month, further bolstering the average.
 
To form a complete picture of the used truck market, we must seperately analyze the wholesale sector. Stay tuned for those details next week.