Continuing the one-month-on, one-month-off trend of the last three quarters, there was very little auction activity for our benchmark group of the three highest-volume sleeper tractors last month. Bad weather and fewer auctions on the calendar were the main factors behind the drop in volume.

There were only 25 examples of our three trucks of model years 2011, 2012, and 2013 sold through one of the nation’s two large no-reserve auction companies in January. Contrast this result with December’s total of 270 for the same group. See graph below for detail.

For once, there was little change in pricing month-over-month, with the limited volume keeping depreciation to a minimum for the time being. In fact, the highest-volume truck actually recovered 19% of its value on a mileage-adjusted basis for the 2011 model year. However, due to the low volume, this improvement is not representative of true market direction. See graph below for detail.

We do know that there is a larger volume of trucks listed to be sold in February at these auctions. We expect pricing to continue trending downward at a greater rate than last year.

Stay tuned for further analysis of used truck segments later this week.