January’s auction results were unusual due mainly to severe weather that kept many buyers home. Lighter GVW conventionals sold in relatively normal numbers, and brought more money than the two previous months. Heavier GVW conventionals, on the other hand, sold in much fewer numbers than normal, and it appears that only the most desirable trucks sold. 

Starting with Class 4’s, the average wholesale selling price of a 4-7 year-old conventional in January was $15,618 - $2884 (or 18.5%) higher than December, and $114 (or 0.7%) higher than January 2013. Average mileage, at 102,391, was 771 (or 0.8%) higher than December, and 10,726 (or 10.5%) higher than January 2013. See graph below for detail.

There is still no shortage of supply of trucks with over 100,000 miles in this segment. In addition, end users confident in their job or business outlook are largely shopping for new trucks. At the same time, used trucks with mileage in the low-6 figures still have plenty of remaining life, and are at an attractive price point. It is likely that future performance of this segment will reflect the slow but steady growth of the economy overall.

Looking at Class 6’s, the average 4-6 year-old conventional sold wholesale in January brought $23,473, which is $5602 (or 23.9%) higher than December, and $8591 (36.6%) higher than January 2013. Mileage, at 123,022, was 39,015 (or 24.1%) lower than December, and 61,170 (or 33.2%) lower than January 2013. See graph below for detail.

Again, January’s results were not indicative of a shifting market. Previous months suggest mildly higher demand for trucks with mileage in the low to mid 100s, and we will stick with that observation for now. 

Stay tuned for a look at the cabover segment – as well as Class 8 segments – in the March edition of Guidelines, available early the week of the 10th.