Last month, we reported that the average mileage of 4-7 year-old Class 6 Conventionals sold through wholesale channels has steadily dropped, with a concurrent increase in average price. April’s results continued this trend, with pricing coming in even higher than March’s record, at $28,281 vs. $25,014 – a $3267 (or 11.6%) increase. April’s average mileage was 125,036 – an 11,835 (or 8.6%) decrease. See graph below for detail.

Lower mileage is the main factor behind the higher average pricing, but an increase in the inherent value of individual trucks is also evident. Trucks at a given mileage point in April are bringing more money than they have in previous months. 

Before we become too optimistic, though, we will note that the number of trucks sold remains unusually low. The market has apparently become more selective, purchasing only trucks with lower mileage. This trend is logical, given the increased sales of new Class 6 trucks, which indicates increased confidence and less demand for cheaper equipment.

The main takeaway is owners of Class 6 iron with mileage up to the mid-100’s can be confident that the value of their equipment is recovering. Stay tuned for analysis of other medium duty segments later this week.