2016 Sees a Decrease In Used Truck Prices
2016 saw a decrease in the price of used trucks with three-to-five-year-old tractors selling for an average of $8,803 less compared to 2015.
This difference is 12.5 percent according to Overdrive’s sister site, Successful Dealer. In December 2016, the average three-to-five-year-old sleeper had an average mileage of 435,732 and sold for $53,916.
The most expensive three-to-five-year-old trucks come from the Volvo and Kenworth brands. Volvo’s VNL 780 and Kenworth’s T660 sold for more than $60,000 on average. Freightliner Cascadia, Peterbilt 386, 387 and 587, and Volvo VNL 670 models fell in the mid-range, selling between $55,000 and $60,000 on average.
Successful Dealer also found that the only other models that were able to sell for more than $60,000 in 2016 were three-to-five-year-old VNLs with Volvo’s D13 engine and iShift transmission, Kenworth’s T660 with a Cummins ISX and manual transmission, and the VNL 780 with a D13 engine and manual transmission.
The Mack trucks equipped with an MP8 engine and manual transmission and International ProStar tractors running Navistar’s MaxxForce engines and manual transmissions were the only models to average less than $50,000 in the three-to-five-year-old retail market.
The ProStar MaxxForce/manual truck was sold for around $25,000 and NADA data shows the same tractor with a Cummins ISX totaled around $50,000 in the 2016 marketplace. Mack’s model sold for an average price slightly above $45,000.
NADA cited the 0.7 percent point growth in monthly depreciation rates for retail sleepers in 2016 as the reason for the three-to-five-year-old sleepers selling for $8,803 less (12.5 percent) in the retail market last year than in 2015.
“This difference is substantial, but notably smaller than the drastic 30 percent year-over-year change in auction pricing for these same trucks,” according to NADA.