Sleeper tractors wholesaled in July saw a 3.3% increase over June to come in at an average of $25,595. Mileage was comparable to last month, at 687,987 – a 3288 (or 0.5%) increase. Age was one month older, at 86 months.

Pricing in the first half of 2013 has been lower than the same period in 2012, as you can see from the graph below. However, what is also evident is that this lower average pricing is due mainly to a higher average mileage mix of trucks sold in 2013. There is still a strong correlation between price and mileage, which means that pricing for trucks at a given mileage level has not changed appreciably in this period.

The “Average Wholesale Selling Price by Mileage Range”graph below traces this performance. Note that while the 600-699K cohort appears to be underperforming, those results are actually primarily due to a large group of identically-spec’ed, higher-mileage trucks impacting the averages for this period. Excluding these trucks returns that cohort to the trend.

Bottom line: The majority of trucks sold wholesale are 2007 and older, with over 600,000 miles. Despite the higher mileage mix of available trucks, depreciation for a truck of given age and mileage has been minimal to moderate over the past 18 months. Stay tuned for a more detailed analysis in the September edition of GuideLines, available early next month.