The ongoing increase in the supply of lower-mileage sleeper tractors pushed our average to an all-time high In October, coming in at $61,073 - $1,717 (or 2.9%) higher than September, and $7,708 (or 14.4%) than October 2013. Average mileage dipped into the 4’s for the first time in almost four years, coming in at 497,198 – a 4,670 (or 0.9%) decrease vs. September, and a 25,911 (or 5.0%) decrease vs. October 2013. Age has been the only variable to remain consistent during this time, with October’s average dropping one month from September at 74 – identical to October 2013. See graph below for detail.

The main factor behind this month’s result is a disproportionate increase in the number of trucks sold with mileage between 400-500K miles. These trucks are generally right in the middle of the 3-5 year-old age bracket that represents the bulk of trade-in activity. Trucks of this mileage are generally selling in the low-$60K range, contributing to the strong average this month. See graph below.

In terms of overall volume of trucks sold, 2014 to date is already running 14.1% ahead of calendar year 2013. Judging by the continued high pricing, demand still outstrips supply.

Look for additional detail in the December edition of Guidelines, available early next month.

Also, please note that there will be no Thursday blog update this week to due Thanksgiving. We wish our readers a warm and happy holiday.