December auction volume was mildly lower than November. Pricing for our benchmark model was also somewhat lower, particularly for newer trucks with higher mileage. The market appears to have less tolerance for slightly high mileage See below for detail.

Model year 2015: $43,550 average; $1,950 (4.3%) lower than November

Model year 2014: $32,000 average; $750 (2.3%) lower than November

Model year 2013: $30,250 average; $1,400 (4.4%) lower than November

Model year 2012: $25,000 average; $345 (1.4 %) lower than November

Model year 2011: $21,850 average; $1,225 (5.9%) higher than November

Strong pricing through the third quarter of 2018 left the year with essentially no monthly depreciation (0.2% per month is our estimate). On average, trucks four to six years of age brought 21.5% more money in 2018 compared to 2017. Market dynamics are pointing to somewhat less-hot conditions as 2019 unfolds.