The lighter GVW end of the medium conventional market performed better than the heavier end for the third month in a row. Since May, the average wholesale selling price of our benchmark group of 4-6 year-old Class 4 conventionals has been higher than our Class 6 group.

Specifically, Class 4’s averaged $19,402 in July. This figure is $169 (or 0.9%) higher than June, but $2,066 (or 9.6%) lower than July 2015. Class 6’s averaged $16,655 in July. This figure is $1,748 (or 9.5%) lower than June, and $6,520 (or 28.1%) lower than July 2015.

Since January, our Class 6 group has depreciated at a much greater rate than our Class 4 group. Class 4’s have been essentially flat, while Class 6’s have lost roughly 5% per month. Average mileage of Class 4’s is up 6.5% vs. last year, while average mileage of Class 6’s is down 6.3%. Volume for both segments is up dramatically in 2016. These fundamental factors suggest differing demand for Class 4 vs. Class 6. Buyers seem to be more interested in lighter GVW conventionals in the most recent few months.

See graph below for detail.