The average sleeper tractor sold wholesale (auction, dealer-to-dealer, and dealer-to-wholesaler combined) in August was 77 months old, had 546,060 miles, and brought $31,255. Compared to July, trucks sold in August were 7 months newer, had 72,342 (or 11.7%) fewer miles, and brought $1,550 (or 5.2%) more money. Compared to August 2015, trucks sold this month were 3 months newer, had 41,222 (or 7.0%) fewer miles, and brought $6,720 (or 17.7%) less money. August’s overall results were bolstered by the slightly newer mix of trucks sold. See graph below for detail.

The increased number of 3-5 year-old trucks sold pushed down the pricing average for that group this month. Average wholesale pricing for the 3-5 year-old cohort was $38,346 - $2,798 (or 6.8%) lower than July. Average mileage for this group was 507,303 – 44,568 (or 8.8%) lower than July. Compared to August 2015, trucks sold this month had 4,843 (or 1.0%) fewer miles, and brought $11,966 (or 23.8%) less money.

Average pricing by model year was as follows:

MY2014: $47,722 - $4,137 (or 8.0%) lower than July

MY2013: $36,473 – $82 (or 0.2%) lower than July

MY2012: $30,844 - $4,174 (or 11.9%) lower than July

See graph below for detail.

Since January, trucks three to five years of age have lost about $10,000 (or 20%) of their value, which translates to about 2.5% per month – slightly better than our early forecasts of 3-5% per month. In terms of individual model years, 2014’s have lost about 25% of their value since January, 2013’s have lost about 13%, and 2012’s have lost about 22%.

Despite the moderate decline in August’s pricing, monthly depreciation is still averaging less than our 3-5% forecast. Expect conditions to remain similar through the end of the year.

Stay tuned for the September auction recap early next month.