Final January retail data shows the average three to five year-old sleeper tractor sold for $6,437 (or 8.1%) less money than January 2015 on average. Predictably, older trucks fared worst, with five year-old units averaging $9,680 (or 16.9%) less, four year-old units averaging $7,682 (or 10.1%) less, and three year-old units basically identical at $229 (or 0.2%) more. See graph below for detail.

The price decreases are mainly attributable to depreciation of the highest-volume models that have been running through the auction lanes for the past 2-3 quarters. In January of 2015, the lowest-priced five year-old sleeper tractor reported sold brought $40,000. In January of 2016, the lowest reported sale was $19,250. Granted, the steep devaluation of the ProStar was just beginning in January of 2015, so the comparison is a bit over-emphasized. However, the results do illustrate the marked difference in conditions in the two periods.

Keep in mind we revised our definition of “3-5 Year-Old” in January to cover 2014-2012 model year trucks. Previously, we defined this cohort as 2013-2011 model year. Trucks of each model year continue to depreciate at roughly 4% per month, which we expect to continue in the short term.

Stay tuned for a look at the wholesale market early next week.