Strong End to 2020 for the Class 8 Retail Market

By Chris Visser

Volume improved notably this month. Pricing remains firm, still not particularly strong by historical standards, but also not depreciating.

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.

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