The influx of late-model sleeper tractors coming off trade continued in June, pushing our universal retail average down about 3% from May. Specifically, the average sleeper tractor retailed in June for $57,138, had 521,586 miles, and was 78 months old. Compared to last month, pricing was down $1,748 (or 3.0%), mileage was up 14,640 (or 2.9%), and age was 3 months older. Year-over-year, June 2014’s pricing was up $4,314 (or 8.2%), mileage was down 10,755 (or 2.0%), and age was 3 months older. See graph below for detail.

June was the second month in a row to show a pullback from April’s all-time record pricing. The market is still weighted toward demand, with late-model, lower-mileage trucks slightly more available than they were early in the 2nd quarter. Obviously, given the extremely favorable year-over-year comparisons, pricing is still at a historically high level, which is where we expect it to remain through the end of the year. At the same time, we are unlikely to see record pricing again, and we continue to forecast depreciation for 2013-2010 model year trucks on the order of roughly 1.5% per month. 

Stay tuned later this week for results from the wholesale channel.