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Used Truck Pricing Trends Vary By Category

According to Price Digests, used truck pricing fell slightly from April to May. The trucking information services company compiles a Price Stability Index to track the relative strength of the resale market across the United States and Canada. In April, the index stood at 97.54. It declined slightly to 96.40 the following month. Price Digests considers an index above 99 representative of a stable market.

Overall, reports that used truck prices at dealerships increased slightly month-over-month as retail inventories declined. Compared to one year ago, however, prices are lower. For example, the average retail price of a pre-owned truck stood at $37,472, or 7.3 percent lower that May of last year. Auction prices over the same period dropped 14.3 percent, on average.

Market Strengths

However, there were areas of strength and weakness. According to Price Digests, prices for heavy-duty conventional sleepers rose an average 8.6 percent, year-over-year. Medium-duty crew cabs rose 7.1 percent during the same period. However, medium-duty conventional day cab chassis declined 14.3 percent in price, on average.

J.D. Power’s Commercial Truck Guidelines highlighted the fact that prices were strong among newer, low-mileage, medium-duty trucks. Demand also remains for pre-2008 models without diesel particulate filters (DPFs). Overall industry conditions result in many owner-operators choosing to rebuild or refurbish rather than to invest in the latest models. The potential repair costs of late-model trucks with DPFs concern some. Some repair costs can exceed $20,000, not counting the cost of engine maintenance.

Depreciation Figures 

Depreciation per month is often of keen interest to everyone from owner operators to fleet managers. In May 2017, depreciation for 2011 trucks averaged 3.1 percent/mo, while 2012 depreciated 1.1 percent/mo. Interestingly, 2013 trucks, on average, lost no value during May.

Michigan Truck Sales is your source for quality pre-owned semi trucks, trailers, construction equipment, parts and service. For prompt, professional assistance, please contact us today! 

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