3-5 year-old sleepers continue to represent an increasing proportion of the retail and wholesale markets, thanks to the continued influx of trade-ins resulting from increased new truck deliveries. This cohort now comprises more than half of the trucks in our sleeper database – 53% in January, up from 43% in January of 2014. See graph below for detail.

So far, year-over-year pricing comparisons are essentially identical, with this group averaging $74,020 in January vs. $74,120 in January 2014, for a $100 (or 0.1%) decrease. From the first to fourth quarters of 2014, 3-5 year-old trucks lost 8.5% of their value on average. We expect depreciation for this cohort to be closer to 10-12% by the end of 2015, based on a less favorable supply-demand relationship. See graph below for detail.