Retail sales data submitted to NADA from dealers and OEM’s shows that the sleeper market in March ticked mildly downward.

The average sleeper tractor retailed in March was 77 months old, had 524,564 miles, and sold for $55,840. Compared to February, this truck was one month newer, had 4224 (or 0.8%) fewer miles, and worth $386 (or 0.7%) less. Compared to March 2013, this truck was identical in age, essentially identical in mileage, and worth $5048 (9.0%) more. See graph below for detail.

The year-over-year comparison provides a good example of how the market has shifted over this period, with the average used truck now worth over $5000 more retail despite identical age and mileage. As we’ve stated, continued increases in our universal average are due mainly to an increased number of newer trucks entering the secondary market – particularly 2011’s. Concurrent with this trend is an increase in the number of trucks available with lower-than-average mileage, particularly in the 300-399K range. This mileage shift is partially attributable to a slowly-but-surely increasing number of 2012’s entering the market.

Based on this positive movement, why did we say that the market ticked mildly downward? Because when viewed on an individual basis, most trucks declined slightly in March. Essentially, the market is increasingly represented by newer trucks, which bolsters our universal average - but selling prices for individual trucks by model year are not necessarily increasing. See graph below for detail. 

In general, though, we have not yet seen movement that suggests a declining market, and we continue to consider pricing stable at a historically high level. 

Stay tuned for Wholesale pricing analysis on Thursday.