The average sleeper tractor sold wholesale (auction, dealer-to-dealer, and dealer-to-wholesaler combined) in September was 77 months old, had 575,017 miles, and brought $35,599. Compared to August, trucks sold in September were identical in age, had 28,957 (or 5.3%) more miles, and brought $4,344 (or 13.9%) more money. Compared to September 2015, the average sleeper sold this month was 14 months newer, had 73,342 (or 11.3%) fewer miles, and brought $1,172 (or 3.4%) more money. As was the case in August, September’s overall average was bolstered by the slightly newer mix of trucks sold. See graph below for detail.

Narrowing our focus to the more instructive 3-5 year-old group, pricing was very similar to August. Average wholesale pricing for this cohort was $38,815 - $469 (or 1.2%) higher than August. Average mileage for this group was 499,517 – 36,782 (or 7.9%) higher than August. Compared to September 2015, trucks sold this month had 27,687 (or 5.9%) more miles, and brought $11,966 (or 23.8%) less money.

Average pricing by model year was as follows:

MY2014: $52,418 - $4,696 (or 9.8%) higher than August

MY2013: $33,479 – $2,994 (or 8.2%) lower than August

MY2012: $30,547 - $297 (or 1.0%) lower than August

See graph below for detail.

Monthly variations within each model year are not particularly meaningful, so we prefer to focus on performance of the 3-5 year-old cohort as a whole. Since January, trucks of this age range have lost about $11,000 (or 22%) of their value, which translates to just under 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 20%, and 2012’s have lost about 23%.

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.