Looking at the pricing average of trucks three to five years of age, most models moved moderately downwards in June. As we mentioned last week, the 6% average monthly decline of this segment is greater than our forecast last month, and points to the continuing impact of excessive supply and limited demand. See graph and commentary below.

In terms of specific models, the Peterbilt 587 and Volvo VNL64T 630/670 brought essentially equal money, sitting right at the segment average. The Freightliner Cascadia, Kenworth T660, Peterbilt 386, and Volvo VNL64T 730/780 all fell into a narrow $2,000 range between $59,000-$61,000.

Looking at individual model years, trucks of model year 2014 (three years old) lost a substantial 8.6% of their value on average. Almost all models moved down by a similar amount. The exception was the 386, which has returned lower but more stable pricing than other models for the past few months. The rest of the market has now caught up to the 386, and most models are now returning similar pricing.

Trucks of model year 2013 (four years old) lost 4.5% of their value on average. Most models saw limited depreciation except for the 730/780, which saw a large number of unusually-low-priced units cycle through the market this month. There were no spec or condition issues with these units mentioned in the data we received, so we will consider this situation an anomaly for the time being.

Trucks of model year 2012 (five years old) lost 2.9% of their value on average. The big mover in this cohort was the Cascadia, which, like the four-year-old 730/780, saw a large number of low-priced units move through the market. Volume was the main factor here.

Overall, the pricing averages were partially impacted by the two groups of unusually-low-priced units. At the same time, it appears that May’s bump over April did not stick into June, and the market is performing closer to our earlier expectation of 4-5% depreciation per month. This is a more logical performance in the current market environment.