To follow up on June’s retail pricing analysis, here’s what happened in the wholesale market. Sales results submitted to NADA from dealers and auctions show that the average wholesale price of a sleeper tractor sold in June was $24,751 – a $3678 (or 12.9%) decrease month-over-month, and a $1411 (or 5.4%) decrease year-over-year. That average truck had 684,699 miles – nearly identical to last month with a decrease of only 721 ( or 0.1%), and a 7005 ( or 1.0%) decrease year-over-year. Age was two months older month-over-month, and a notable 11 months newer year-over-year. See graph below for detail.

There are no standout reasons for the decrease in pricing. An increase in the number of trucks sold in the 600-699K and 900-999K mileage ranges was partly responsible, but in general, it appears that lower prices were paid for trucks across the board.
 
Since the auction market provides a hint at what dealers think they might need in the short term, an increase in volume combined with a drop in pricing provides a mixed set of signals. We’re considering the volume change a typical late spring/early summer pause, and are considering the decrease in pricing a return to the average. Given the continued strong pricing in the retail market, we’re not concerned.
 
Stay tuned for additional detail and analysis in upcoming blogs and the August edition of Guidelines, available early next month.