In 2015, the construction market underperformed 2014, with some strength in selected regions and applications. Nonresidential construction was relatively strong on average, residential was moderately healthy regionally, mining and raw materials were weak, and energy weakened as 2015 progressed.

On average, the typical construction truck sold in 2015 was 128 months old and had 251,326 miles. Compared to 2014, trucks sold were 8 months newer and had 34,613 (or 12.1%) fewer miles. Universal average pricing was nearly identical, at $63,317 in 2015 and $63,200 in 2014. Overall, there were about 7% fewer construction trucks sold in 2015 than 2014.

Trucks of model year 2007 saw the highest sales volume in both periods, mainly because that was the last high-build year before the recession. Availability of newer trucks improved in 2015, with the 2009 and 2010 model years seeing the most notable increase year over year.

This increased supply resulted in notable price erosion for six and seven year-old trucks. In 2015, trucks of model year 2010 brought $73,829, while 2009’s brought $68,890 on average. In 2014, trucks of model year 2009 brought $79,073, while 2008’s brought $74,430. This means the average six year–old construction truck in 2015 brought 6.6% less money, while the average seven year-old unit brought 7.4% less. See graph below for detail.

Looking at specific models, Peterbilt and Mack appear to be the most popular makes in this segment. Peterbilt’s 367 returned the highest volume in newer model years (2010 and newer), while Mack’s GU713 and CV/CT713 were the highest volume of trucks seven years of age and older. International’s 7000-series was also popular in older model years.

Availability of newer trucks should continue to improve, as the higher-build 2012 and 2013 model years continue to return to the secondary market in greater numbers. Demand for construction trucks by sector should run slightly behind 2015 over the next few quarters.