As we mentioned earlier this month, the number of three- to five-year-old sleeper tractors sold at auction fell substantially in April. This development was also evident in the dealer-to-dealer channel, with 44% fewer trucks of that age range reported sold. As a result, the average age of trucks sold in the overall wholesale universe jumped up to 93 months in April (11 higher than March). See graph below for age details.

The model year showing the largest decline in volume was 2012, mainly due to a drop in Volvo 630’s and 670’s reported sold. Pricing for 2012’s on average was down substantially in April, at $33,151 – an $11,184 (or 25.2%) decrease vs. March. Year-to-date, three- to five-year-old sleepers are bringing $8,626 (or 15.9%) less money than in the first four months of 2015, with four-year-old trucks suffering the worst. See graph below for pricing details.

Most dealers have more than enough inventory of late-model sleepers, so activity in the non-auction wholesale channel is likely centered around inventory relocation and specific needs from customers. We will continue to monitor wholesale activity very closely as supply defines the market in 2016.