Strong End to 2020 for the Class 8 Retail Market
The average sleeper tractor retailed in December was 67 months old, had 455,420 miles, and brought $48,650. Compared to November, this average sleeper was identical in age, had 9,042 (2.0%) more miles, and brought $57 (0.1%) less money. Compared to December 2019, this average sleeper was 4 months newer, had 25,640 (5.3%) fewer miles, and brought $1,339 (2.8%) more money.
In calendar-year 2020, the average sleeper tractor retailed was 68 months old (3 months newer than in 2019), had 462,427 miles (0.6% fewer than in 2019), and brought $43,321 (19.4% less than in 2019).
Looking at trucks two to five years of age, December’s average pricing was as follows:
- Model year 2019: $100,156; $4,335 (4.5%) higher than November
- Model year 2018: $73,740; $1,575 (2.2%) higher than November
- Model year 2017: $49,929; $2,808 (5.3%) lower than November
- Model year 2016: $40,050; $121 (0.3%) higher than November
Month-over-month, late-model trucks brought 0.7% more money. In calendar-year 2020, pricing averaged 13.7% lower than in 2019. Depreciation in 2020 averaged 1.9% per month, almost identical to 2019’s 2.0 per month. If we look at just the second half of 2020, depreciation was essentially zero, compared to 2.7% per month in 2H 2019.
Price deterioration is now evident for the models most heavily represented in the used market. However, there is a very wide variation in selling prices for those models depending on whether they’re sold as large package deals or individually.
Stay tuned for a full year-end wrapup in the January edition of Guidelines, available next week.
