Class 8 Market Little Changed in October
The auction market perked back up in October 2024, with volume increasing and pricing stable. Retail conditions were essentially unchanged from September.
CLASS 8 AUCTION UPDATE
Sales volume picked back up in October, making up for September’s lukewarm result. Pricing was generally stable, with any swings in the averages below due to the relatively small sample size of our benchmark group.
Looking at late-model sleeper tractors, average pricing for our benchmark truck in October was:
- Model year 2021: $44,857; $3,090 (6.4%) lower than September
- Model year 2020: $35,825; $493 (1.4%) lower than September
- Model year 2019: $28,302; $4,206 (17.5%) higher than September
- Model year 2018: $18,506; $572 (3.2%) higher than September
In September, selling prices for four- to six-year-old sleepers were 0.6% lower than September. Pricing is currently 4% lower than the strong pre-pandemic period of 2018 in nominal figures (23% lower if adjusted for inflation), but 42% higher than the last market nadir in late 2019 (16% higher if adjusted for inflation). Stable pricing since the second quarter has kept the monthly depreciation average down to a very low 1.2%. 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.
