Class 8 Auction Volume Down in May, but Pricing May be Firming
Volume was down considerably in May, which made analysis difficult and resulted in averages that are not necessarily representative of market conditions. A more complete analysis suggests depreciation has relaxed, and the market appears to be firming. See below for average pricing detail for our benchmark truck.
- Model year 2017: $37,180 average; $2,180 (6.2%) higher than April
- Model year 2016: $25,545 average; $545 (2.2%) higher than April
- Model year 2015: $22,345 average; $5,348 (24.2%) higher than April
- Model year 2014: $15,940 average; $215 (1.4%) higher than April
- Model year 2013: $12,097 average; $1,653 (12.0%) higher than April
Month-over-month, our benchmark group of 4-6 year-old trucks brought 9.1% more money. In the first 5 months of 2020, pricing averaged 26.4% lower than the same period of 2019. Depreciation in 2020 is now averaging 0.9% per month, which is more of a mathematical anomaly due to low volume than a representation of actual market conditions. However, as stated above, we do feel the market is firming, and dynamics should continue to move positive as the country continues to gradually reopen.