Our benchmark group of 4-7 year-old Class 3-4 cabovers has trended upward since November, following a weak October. Volume greatly increased in December, underscoring this recent strength.

Trucks sold in 2015 depreciated at a relatively steady rate until November, when they recovered some value. On an annual basis, trucks sold in 2015 were priced very similar to those sold in 2014. We consider this market steady, with moderate demand meeting adequate supply. See graph below for detail.