Class 8 Auction Pricing Shoots into the Stratosphere
Auction pricing for the newest available sleeper tractors continues to shoot into the stratosphere. There are just not enough of these trucks to meet demand. Small sample sizes mean we’re not going to draw conclusions on one month’s results, but volume was actually higher in March than February, so the trend looks legitimate. There don’t appear to be any stories behind this month’s hammer prices – the market has spoken. See the average pricing detail for our benchmark truck below.
- Model year 2018: $69,556 average; $19,627 (39.3%) higher than February
- Model year 2017: $57,749 average; $8,671 (17.7%) higher than February
- Model year 2016: $40,639 average; $1,858 (4.8%) higher than February
- Model year 2015: $27,192 average; $4,848 (15.1%) lower than February
- Model year 2014: $23,570 average; $3,230 (12.1%) lower than February
Month-over-month, our benchmark group of 4-6 year-old trucks brought 21.9% more money. Compared to the first 3 months of 2020, this group is running an amazing 72.5% ahead – and that’s still a pre-COVID 2020 comparison. We don’t expect another 39.3% increase in any month-over-month results, but we do expect the newest trucks in the marketplace to remain a sure bet into the summer.
Stay tuned for March retail results and our Guidelines monthly market update shortly.