October 2024 Commercial Truck Guidelines
Auction volume and pricing decreased in September 2024. Retail volume ticked up slightly, with sleeper depreciation mild and daycab pricing stable.
CLASS 8 AUCTION UPDATE
Sales volume at auctions in September dipped from August, which is unusual since September is frequently the highest-volume month of the year. Pricing dropped for a second consecutive month.
Looking at late-model sleeper tractors, average pricing for our benchmark truck in September was:
- Model year 2021: $47,947; $1,239 (2.5%) lower than August
- Model year 2020: $36,318; $2,731 (7.0%) lower than August
- Model year 2019: $24,096; $3,837 (13.7%) lower than August
- Model year 2018: $17,934; $4,142 (18.8%) lower than August
In September, selling prices for four- to six-year-old sleepers were 6.7% lower than August. Pricing is currently 1% lower than the strong pre-pandemic period of 2018 in nominal figures (21% lower if adjusted for inflation), and 46% higher than the last market nadir in late 2019 (19% higher if adjusted for inflation). Despite September’s downward movement, depreciation in 2024 is averaging only 1.4% per month. August was the first month since April to see lower pricing, and September continued that movement. Of course, these averages are just a broad overview. Our subscription and consulting products drill deeper into individual makes and models and provide more detail into market conditions.
