As in the retail channel, increased numbers of newer trade packages are impacting the resale marketplace. Unlike the retail channel, September’s wholesale average was positively impacted by this development, thanks to a large influx of higher-priced, sub-500,000-mile trucks sold through auctions and dealer-to-dealer.

Specifically, NADA’s wholesale benchmark average price hit its highest level in at least six years, coming in at $47,008. Average mileage was the lowest we’ve seen, coming in at 492,160. Average age was – you guessed it – the youngest recorded, at 64 months. See graph below for detail.

Month-over-month, pricing was up $6,949 (or 17.3%), mileage was down 74,929 (or 13.2%), and age was 9 months younger. Year-over-year, pricing was up $14,705 (or 45.5%), mileage was down 162,645 (or 24.8%) and age was 16 months newer.

As in the retail channel, 3-year-old International ProStars were represented in greater numbers this month. However, in the wholesale channel, that model was overshadowed by same-vintage Kenworth T660’s. This factor was responsible for the drastic change in our benchmark averages.

In general, a monthly change of this magnitude is an anomaly. However, we have expected an accelerated supply increase of newer, lower-mileage trucks now that we are in the thick part of the trade-in cycle of trucks built post-recession. As such, we characterize September’s wholesale results as somewhat unusual, but indicative of the direction the market is heading. 

Stay tuned for more September results later this week.