As in the retail channel, the number of trucks sold wholesale in March increased greatly following the severe winter. Also similarly to the retail channel, 3-5 year-old Class 8 sleeper tractors continue to dominate the market. A large block of 2013’s hit the wholesale market in March, pushing that model year to 3rd place behind 2011 and 2012. 

In terms of pricing, 2011’s have been hit the hardest in recent months on average. However, this performance is mainly due to large numbers of International ProStars cycling through the market. The increased number of 2013’s did result in a lower performance in March, although that result has not yet manifested itself in our 2-month moving average. Most of the 2013’s reported sold were Volvo 730’s, a model which typically performs at or near the top of the market. See graphs below for detail.

The increased supply of 3-5 year-old trucks continues to prop up our universal sleeper average, although this figure has mildly but steadily decreased since its high point in September 2014. Specifically, the average sleeper tractor wholesaled in March brought $44,658 – a $6,122 (or 15.9%) increase over last month, and a $12,475 (or 16.5%) increase year-over-year. In terms of mileage, the average wholesaled sleeper had 517,580 miles in March – a 106,717 (or 59.6%) decrease vs. February, and a 181,920 (or 26.0%) decrease year-over-year. Age of this average sleeper was 71 months – 8 lower than February, and 15 lower than March 2014.

We consider the wholesale channel a short-term predictor of trends in the retail channel. As such, the continued influx of 2011-2013 model year trucks keeps our depreciation forecasts intact.