Predictably, August’s retail used truck market looked very similar to July’s. Dealers sold incrementally more trucks, while pricing was basically unchanged.

The average sleeper tractor retailed in August was 71 months old, had 455,782 miles, and brought $53,480. Compared to July, the average sleeper was 3 months older, had 6,109 (1.3%) fewer miles, and brought $184 (0.3%) more money. Compared to August 2017, this average sleeper was 4 months newer, had 9,311 (2.1%) more miles, and brought $5,662 (11.8%) more money.

Looking at trucks three to five years of age, August’s average pricing was as follows:

Model year 2016: $82,884; $5,557 (7.2%) higher than July

Model year 2015: $62,299; $1,436 (2.3%) lower than July

Model year 2014: $50,333; $426 (0.9%) higher than July

On a year-over-year basis, late-model trucks sold in the first 8 months of 2018 brought 7.5% more money than in the same period of 2017. Depreciation is running 0.4% per month in 2018, compared to 1.8% last year.

Class 8 sales per dealership finally blipped up in August, coming in at 5.2 trucks per rooftop. A result above 5 is more in line with what we had expected at this point, and there is more upward pressure than downward as the supply of trades slowly ramps up.