Here’s how our benchmark group of the three most common sleeper tractors of model years 2011-2013 sold through the nation’s two largest no-reserve auction companies performed in the first three months of 2016.

Compared to the fourth quarter of last year, volume of these trucks was lower by 466 trucks (or 37.5%). March was a high-volume month, with 500 trucks sold through these two sources. This month was second only to last December, in which 686 trucks were sold. See graph below for detail.

Pricing for our benchmark truck (a model with no reliability issues and traditionally strong pricing) was up in the first quarter for model year 2011 and down for model years 2012 and 2013. Specific performance was as follows:

MY2013: $42,253 average; $6,363 (or 13.1%) lower than 4Q 2015

MY2012: $39,536 average; $1,726 (or 4.2%) lower than 4Q 2015

MY2011: $37,040 average; $3,839 (or 11.6%) higher than 4Q 2015

See graph below for detail.

In March, pricing for these three model years essentially equalized – an unusual phenomenon that suggests the market is still finding a comfort level with the higher volume of trucks coming off trade.

As we observed last month, retail selling prices are adjusting downward, as that channel catches up with less favorable supply/demand conditions.

We will continue to adjust our published values to match our interpretation of retail and wholesale selling price data. Feel free to provide your observations or experience using our Comments function.