January 2024 Commercial Truck Guidelines
JANUARY 2024 COMMERCIAL VEHICLE MARKET UPDATE
SUMMARY
Auction volume was up substantially in December 2023, but pricing was surprisingly stable. Retail sales volume
remains depressed, and pricing is now comparable with the weak period of 2019. Conditions should remain similar in
the first two quarters of 2024.
CLASS 8 AUCTION UPDATE
December saw the highest volume of sleeper tractors sold at auction since the June 2020 spike. The ongoing capacity adjustment combined with year-end liquidations were the main factors behind this jump.
Somewhat surprisingly, hammer prices remained relatively stable for most trucks. Depreciation for the benchmark trucks we track was essentially nonexistent in the fourth quarter.
Looking at three- to seven-year-old trucks, average pricing for our benchmark truck in December was:
- Model year 2021: $62,810; $1,295 (2.0%) lower than November
- Model year 2020: $50,119; $3,208 (6.8%) higher than November
- Model year 2019: $32,030; $1,290 (4.2%) higher than November
- Model year 2018: $23,973; $4,263 (15.1%) lower than November
- Model year 2017: $15,008; $4,181 (21.8%) lower than November
