At the halfway point of 2014, the number of sleeper tractors with under 500,000 miles sold at auction or dealer-to dealer is already equal to the number sold in all of 2013. As in the retail channel, increased trades of 3-5 year-old trucks are responsible for this shift. 
Interestingly, older, higher-mileage trucks are also more popular in 2014. Increased recon/rebuild business for pre-2007-emissions trucks is the likely factor here. If an older truck is bought right, it is possible to turn a profit on the retail end even after an overhaul and reconditioning are completed. 

Fortunately, pricing for newer trucks on an individual basis has still not been notably impacted, although our universal average dropped month-over-month. Specifically, the average sleeper tractor sold wholesale in June brought $40,491, had 615,771 miles, and was 77 months old. Compared to May, pricing was down $4,343 (or 9.7%), mileage was up 49,998 (or 8.8%), and age was 4 months older. The higher average mileage mix of trucks sold this month is responsible for the lower average pricing. 

Year-over-year results remain extremely favorable, with June 2014 pricing coming in $15,740 (or 63.6%) higher, mileage 72,216 (or 10.5%) lower, and age 8 months newer.

The first graph below shows the change in NADA’s universal price and mileage average over time. The second graph shows the change in volume and price of all sleepers wholesaled in calendar year 2013 vs. year-to-date 2014.

Stay tuned for more June results next week.