The mix of trucks sold in October had mileage slightly higher than September, which resulted in a mild decrease in average pricing month-over-month. Sales data submitted to NADA shows that the average price of a sleeper tractor sold at auction or dealer-to-dealer in October was $29,283. That truck had 663,235 miles, and was 83 months old. See graph below for detail.
Month-over-month, October’s pricing was $3020 (or 9.3%) lower than September, with mileage 8430 (or 1.3%) higher and age 3 months older. Year-over-year, October was $1699 (or 5.8%) higher on price, 17,052 (or 2.6%) higher on mileage, and 2 months newer.
The higher average mileage this month was driven mainly by additional trucks sold in the 700-799,000 range combined with fewer trucks sold in the 500-599,000 range. This monthly mix will continue to fluctuate based on the mileage characteristics of trucks available to the secondary market. In terms of demand, trucks in the 700-799K range remain stable, with trucks under 600K trending upwards in recent months.
October’s wholesale results leave our status quo outlook intact. We expect monthly fluctuations in volume, with pricing stable to upwards depending on mileage.
Please note that due to the Thanksgiving holiday, this will be the last blog update until the week of December 2. We wish all of our readers a happy Thanksgiving.