Class 8 Auction Market Ends Year on High Note

December was a higher-volume month, which is not unusual. Pricing was stable to upwards for most trucks, despite a very large volume of 3-year-old sleepers continuing to cycle through the market. December’s results continued the strong run of the 2^nd half of 2020, with average pricing better than any time since the 1^st quarter of 2019. See the average pricing detail for our benchmark truck below.

• Model year 2017: $45,868 average; $306 (0.7%) higher than November
• Model year 2016: $30,485 average; $4,175 (13.7%) higher than November
• Model year 2015: $25,426 average; $547 (2.2%) higher than November
• Model year 2014: $19,661 average; $567 (2.9%) higher than November
• Model year 2013: $16,460 average; $201 (0.8%) lower than November

Month-over-month, our benchmark group of 4-6 year-old trucks brought 5.0% more money, making December second only to September in terms of average hammer price. In calendar year 2020, pricing averaged 3.5% lower than 2019 – a remarkably stable comparison considering the massive upheaval our industry saw in 2020. The 2^nd half of 2020 performed even better, with late-model trucks bringing 23.9% more money than the same period of 2019. Our benchmark truck increased in value an average of 3.1% per month in 2020.

Incoming supply of trades and demand for freight should support pricing through the 2^nd quarter of 2021, barring any major economic event.