Regular readers of this blog and Guidelines know that we tend to concentrate on highway sleepers because that’s where the vast majority of the volume is. We do provide analysis of different segments to parties who request it – that’s part of our business – but it’s been a while since we’ve published daycab data in the free content we provide to the public. So, without further ado, here’s where the Class 8 highway daycab market sits currently.

Compared to sleepers, daycabs sell in lower volumes and are typically held longer by their primary owners. Due to the lower price of a new daycab – as well as higher demand for new sleepers – used daycab pricing generally lags sleepers until around 6 years of age. At that point, the supply/demand relationship – as well as the substantial difference in accumulated mileage between the two types – creates a scenario in which daycabs command a premium over sleepers.

Looking at retail pricing in 2014 to date, 2012-2010 model year sleepers brought an average of 11.2% more than daycabs. That relationship flips for the 2009 model year, with daycabs bringing 5.8% more than sleepers of that vintage. For the 2009-2007 model years, daycabs command an average of 7.9% more than their sleeper counterparts.

As for mileage, 2012-2010 sleepers show 39.6% more mileage on average than daycabs of the same vintage. That proportion remains essentially identical for the 2009-2007 model years, at 39.3% for that group. As trucks age, though, mileage per year remains fairly linear for sleepers, while the curve flattens out for daycabs. For the 2006-2004 model years, sleepers show an average of 47.8% more mileage than same-vintage daycabs. This behavior is likely due to decreased usage of older daycabs as well as an increased likelihood of a higher-mileage daycab to sell wholesale instead of retail.

In terms of volume, 2012-2010 sleepers represented only 17.6% of Class 8 highway tractor sales reported to NADA. This proportion increases to 24.5% for the 2009-2007 model years. As trucks age past 2007, the proportion of daycabs to sleepers shifts dramatically, with the split nearly equal between the two types. Again, this behavior is due to a supply/demand relationship favoring daycabs in older model years, and increased wholesale activity for high-mileage sleepers.

Stay tuned for additional analysis in the July edition of Guidelines, available next week.

We at NADA wish you a happy 4th!