Last week, we looked at retail pricing performance of 3-5 year-old sleepers. The wholesale channel turned in a somewhat different performance in the first 2 months of the year. 3 year-old trucks are running moderately ahead of last year, but 4 and 5 year-old units are running behind, in keeping with the increased supply in 2015.

Specifically:

2013’s averaged $72,861 through February 2015, compared to $69,416 for 2012’s through February 2014. 
2012’s averaged $56,193 through February 2015, compared to $62,144 for 2011’s through February 2014. 
2011’s averaged $37,983 through February 2015, compared to $48,997 for 2010’s through February 2014.

As in the retail channel, model years 2010-2012 represent the majority of sleepers sold wholesale. Volume of this cohort greatly increased in 2014 compared to 2013. 2013’s are still scarce in the auction lanes, contributing to the strong pricing. We’ve always considered the wholesale channel to be a rough predictor of near-term retail performance, so the lower pricing in 2015 likely foreshadows a mild decline in retail pricing going forward.

Stay tuned next week for complete retail and wholesale results from all segments of the heavy and medium markets in the April edition of Guidelines.