July's Class 8 Auction Results were Encouraging

Average pricing for almost all model years of the benchmark model we track was stronger in July. Volume was back down to a typical level after June’s massive increase, due to fewer auctions on the calendar plus pent-up demand being at least partially satisfied in June. See below for average pricing detail for this truck.

• Model year 2017: $36,831 average; $4,640 (14.4%) higher than June
• Model year 2016: $29,540 average; $2,227 (8.2%) higher than June
• Model year 2015: $26,062 average; $4,154 (19.0%) higher than June
• Model year 2014: $19,367 average; $3,459 (21.7%) higher than June
• Model year 2013: $10,475 average; $3,568 (25.4%) lower than June

Month-over-month, our benchmark group of 4-6 year-old trucks brought 13.5% more money. In the first 7 months of 2020, pricing averaged 21.5% lower than the same period of 2019. More positively, this average is the highest in 12 months. Thanks to July’s increase, our year-to-date average monthly price delta is now into appreciation territory.

Freight data continues to move in the right direction, with some sectors fully recovered and looking strong, and others still slowly recovering. There are still plenty of used trucks available, but demand continues to improve.