Class 8 Auction Market Dipped in August

Sales volume at auctions in August 2024 increased moderately from July. Pricing was mildly lower than last month, due partly to actual market movement but also unfavorable condition and mileage of trucks in the dataset this month.

Looking at late-model sleeper tractors, average pricing for our benchmark truck in August was:

• Model year 2021: $49,186; $111 (0.2%) higher than July
• Model year 2020: $39,049; $1,016 (2.5%) lower than July
• Model year 2019: $27,933; $5,978 (17.6%) lower than July
• Model year 2018: $22,076; $97 (0.4%) lower than July

In July, selling prices for four- to six-year-old sleepers were 5.6% lower than July. Pricing is currently just under the strong pre-pandemic period of 2018 in nominal figures (20% lower if adjusted for inflation), and 55% higher than the last market nadir in late 2019 (27% higher if adjusted for inflation). Depreciation in 2024 is averaging 1.3% per month, substantially lower than the historical average. All of this year’s depreciation occurred in the first quarter, with pricing stable since then.