The medium duty cabover segment returned to trend in February after an essentially moribund January. Auction sales collected by NADA show our benchmark 4-7 year-old, Class 3-4 cabover with under 200,000 miles selling for an average of $13,668. Average mileage for that cohort was 112,307 miles. Volume was up notably, although still off the average.

Month-over-month, February’s pricing was $5218 (or 38.2%) higher than January’s, while mileage was 48,159 (or 30.0%) lower. As we state in the March edition of Guidelines, January’s results are not really valid for comparison, since the unusually low number of trucks sold resulted in skewed figures. 

Year-over-year, February 2014’s pricing was $1556 (or 11.4%) higher than last February, while mileage was 1459 (or 1.3%) lower. 

As you can see from the graph below, pricing since mid-2013 has been unimpressive. The supply of trucks with over 100,000 miles appears to be more than enough to meet demand. At the same time, 2010 and newer trucks are performing better than the average, thanks to their much lower supply. We will continue to monitor these factors and sharpen our analysis in the upcoming weeks.