The average wholesale selling price of 4-7 year-old Class 6 conventionals rose dramatically in January, due mainly to an unusually-low-mileage pool of trucks sold. In addition, the number of trucks sold was down substantially from recent months.

4-7 year-old Class 6 conventionals sold at auction or dealer-to-dealer brought an average of $23,473 in January. This figure simply crushes recent months, beating December by a whopping $5602 (or 23.9%), and last January by an incredible $8591 (36.6%).

Unfortunately, January’s result was not indicative of actual market movement. January’s figure was artificially inflated by the unusually low mileage and low volume of trucks reported sold. Average mileage was 123,022 – 39,015 (or 24.1%) lower than December’s, and 61,170 (or 33.2%) lower than last January’s. In addition, there were a mere 13 4-7 year-old Class 6 trucks reported sold, compared to 26 in December and 35 in November. January’s volume was the lowest since July of 2010. 

We continue to view the Class 6 market as strengthening, but January’s extreme spike was a mathematical anomaly. Buyers simply stayed away from used Class 6 trucks in January, most likely due mainly to extreme weather conditions affecting many auctions. See graph below for detail.