We reported last week that the volume of trucks sold wholesale in August increased over July. We now know that pricing dipped slightly, with the average sleeper tractor bringing $40,059 – a $1,048 (or 2.5%) decrease month-over-month, but a $9,171 (or 29.7%) increase over August 2013. Average mileage was very similar to July, at 567,089 vs. 571,042 – a 3,953 (or 0.7%) decrease. Year-over-year, mileage was 87,422 (or 13.4%) lower. The average sleeper wholesaled in August was 73 months old – 1 month newer than July, and 8 months newer than August 2013. 

Hopefully by now it should go without saying that the drastic year-over-year shift is due to the greatly increased number of newer, lower-mileage trucks entering the secondary market thanks to the return to shorter trade cycles post-recession. Pricing has remained strong in 2014 due to intense demand for trucks with these characteristics. We continue to forecast that demand will remain strong enough to limit depreciation to roughly 1% per month through December. See graph below for detail.