September’s retail sales data showed a return to depreciation, marking an end to a summer defined by minimal price movement.

The average sleeper tractor retailed in September was 74 months old, had 453,982 miles, and brought $49,541. Compared to August, this average tractor was 2 months older, had 15,227 (or 3.2%) fewer miles, and brought $1,712 (or 3.3%) less money. Compared to September 2015, the average sleeper was 1 month older, had 32,949 (or 6.8%) fewer miles, and brought $10,253 (or 17.1%) less money. See graph below for detail.

Narrowing our focus to sleeper tractors three to five years of age, average pricing for this cohort was $56,584 - $4,017 (or 6.7%) lower than August. Average mileage was 453,982 – 15,227 (or 3.2%) lower than August. Compared to September 2015, average pricing was $10,253 (or 5.4%) lower, and average mileage was 32,949 (or 6.8%) lower. See graph below for detail.

Since January, three to five year-old sleepers have lost about $13,000 (or 19%) of their retail value, which translates to just over 2% per month. Depreciation by model year is less varied than in previous months, with three-year-old trucks losing about 18% of their value since January, and four- and five-year-old trucks both losing about 19%.

Despite September’s somewhat negative result, the rate of retail depreciation still continues to outperform our original forecast of 3-4% per month. Volume of late-model trucks sold has been healthier since late spring, and buyers continue to adjust to new market conditions.