In August, retail pricing continued to outperform expectations. Depreciation was very mild for the second month in a row.

Looking at sleeper tractors three to five years of age, average pricing for this cohort was $60,280 - $551 (or 0.9%) higher than July. Average mileage was 445,432 – 4,808 (or 1.1%) lower than July. Compared to August 2015, average pricing was $9,786 (or 14.0%) lower, and average mileage was 20,188 (or 7.8%) lower.

Since January, this cohort has lost just over $10,000 (or 14%) of its retail value, which translates to less than 2% per month. Newer trucks continue to perform best on a percentage basis, with three-year-old trucks losing about 14% of their value, four-year-old trucks losing about 15%, and five-year-old trucks losing about 19% since January. The rate of retail depreciation continues to outperform our original forecast of 3-4% per month.