Following the trend that started in late spring, the average retail selling price of late-model sleeper tractors remained stable, while the volume of trucks sold at individual dealership rooftops remained depressed.

Specifically, the average retail selling price of a 3-5 year-old sleeper tractor in August was $69,187. This figure is $186 (or 1.2%) lower than July, and $992 (or 1.4%) lower than August 2014. Year-to-date, 2015 is essentially identical to 2014, with less than 1% separating the two periods. See graph below for detail.

Sales volume remains well off the 2014 pace. Dealers sold an average of 4.4 trucks in August, compared to 5.6 in August 2014. Year-to-date, dealers have sold 40.2 trucks – 7.5 fewer than in the same period of 2014. See graph below for detail.

It is somewhat unusual for pricing to remain strong in a low-volume environment. The average mileage of trucks sold is decreasing at a minimal to moderate rate, suggesting buyers are becoming more selective. Wholesale volume has been higher in 2015, with increased movement from dealer to dealer and to end users. There is also probably a degree of national realignment of inventory, as trucks are transported to areas where demand is highest.

Demand for late-model sleepers will remain strong thanks to the historically high price of new trucks. However, expect buyers to be more selective. The used truck market of 2015 is looking a lot like one of the normal pre-recession years, with substantial supply but relatively strong demand. This is what a mature used truck market looks like.