Volume Returned to the Auctions in February
The auction world opened back up in February, and sales volume followed suit. An extremely large number of model-year 2020 trucks sold this month, which could be a one-month anomaly resulting from the unexpectedly high new truck deliveries in December. Average hammer price for trucks in that category dipped a bit. Also, the 2019’s in the group we track all had extremely high mileage, which is responsible for their low average. Otherwise, as of this writing in early March, historically high pricing is still with us.
Note due to the lack of trucks sold in January, the averages below compare February to December 2021.
Looking at two- to six-year-old trucks, February’s average pricing was as follows:
- Model year 2021: No trucks sold in February
- Model year 2020: $155,696; $8,087 (4.9%) lower than December
- Model year 2019: $113,306; $18,432 (13.9%) lower than December
- Model year 2018: $104,014; $8,162 (8.5%) higher than December
- Model year 2017: $85,345; $12,040 (16.4%) higher than December
Model years 2019-2017 averaged 0.6% more money in February 2022 than December 2021. Going forward, we will use model years 2020-2018 to represent three- to- five- year-old trucks. In February, those trucks averaged 4.7% less money in February than December 2021. This lower average is due primarily to the unusually high-mileage mix of 2019 trucks sold in February.
Stay tuned for results from the retail channel next week.