With all February auctions completed at the nation’s two largest no-reserve auction companies, we know how pricing and volume shaped up for the month.

Focusing on our benchmark group of the three highest-volume sleeper tractors of model years 2011, 2012, and 2013, there were 253 of these trucks sold through both auction houses. Volume was lopsided, with one auction company responsible for all but 26 of these trucks sold. This total is up from a completely dead January, but down dramatically from the recent high of 686 in December 2015. See graph below for detail.

In terms of pricing, we’ll focus on results from the higher-volume auction house, since that’s where the vast majority of units sold this month. Hammer prices for our benchmark model* actually strengthened this month, with all three model years showing upward movement. The biggest mover was the 2012 model year, which saw pricing increase about 21% from December to February. On average, all three model years increased about 15% over this period. Keep in mind we’re skipping January in this comparison, since there were zero sales of these trucks through this source that month. See graph below for detail.

This month’s higher pricing is most likely not a new directional trend. The lower supply of available trucks in January and February is probably the primary factor behind the increased values, but we expect pricing to move back down towards late 2015 levels in March. There will be more auctions on the calendar that month, and there will be no shortage of off-trade units becoming available.

* Without naming names, our benchmark model has been popular in the post-recession period, generally considered reliable and delivering good fuel economy. This model brought strong pricing prior to the devaluation of mid-2015.