Auction activity continued to defy our predictions in August, with low volume indicating a supply that is still very tight. Month-over-month, the volume of the three most popular sleeper tractors sold through the two largest nationwide auction companies was almost identical to July, at a mere 99.

Pricing was strong for our benchmark model. See below for detail.

Model year 2015: no trucks sold in August(!)

Model year 2014: $39,000 average; $4,750 (13.9%) higher than July

Model year 2013: $29,750 average; $250 (0.8%) lower than July

Model year 2012: $29,250 average; $2,750 (10.4%) higher than July

Model year 2011: $21,800 average; $3,000 (16.0%) higher than July

Year-over-year, trucks four to six years of age sold in the first eight months of 2018 brought 21% more money than the same period in 2017.

Production constraints seem to be mostly alleviated at the factories, so we expect deliveries to increase going forward. Trade-in volume will ramp up incrementally.