The volume of our benchmark sleeper tractors sold through the nation’s two largest no-reserve auction companies remained subdued in May, with one model responsible for the vast majority of the 15.3% month-over-month increase. Pricing for our benchmark model years (2013-2011) was down 5.6% on average.

Specific performance was as follows:

MY2013: $36,500 average; $4,407 (or 10.8%) lower than April

MY2012: $35,659 average; $5,059 (or 16.5%) higher than April

MY2011: $28,750 average; $6,607 (or 18.7%) lower than April

See below for graphs and commentary.

Month-over-month fluctuations aren’t overly meaningful given the low recent volume. Looking at the year-to-date trend, trucks of model year 2013 have lost about 13% of their value, trucks of model year 2012 have lost about 18% of their value, and trucks of model year 2011 have lost about 11% of their value. These figures translate to an overall monthly loss of just under 3% - not bad given the major changes the market has seen over the past year.

Given the known sales history of the past three years, the returning supply of used trucks is somewhat predictable. Volume should increase mildly in the second and third quarters, then fall in the fourth. We can expect another first-quarter increase in 2017.

One other item to note is the volume of daycab versions of our benchmark models increased dramatically in May. We are limiting our published analysis to sleepers, but keep in mind this increased volume of daycabs will impact market pricing and ATD/NADA Official Commercial Truck Guide values.