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July sees near-record pricing continue for used sleeper-equipped tractors

On the wholesale market, which consolidates data from auction and dealer transactions, volume has fluctuated over the past few months. Average pricing, which had declined somewhat for June, rebounded with a $844 per tractor increase, a gain of 3.3 percent, to bring the average to $25,595.

The Trucker News Services

9/11/2013

Average July pricing for used, sleeper equipped tractors came in at just $64 under the record pricing set in June, according to the September advance copy of the Official Commercial Truck Guide Update issued by ATD/NADA.

The July average of $52,609 is off by a mere 0.01 percent from the June average, and comes after new pricing records were set in each of the four preceding months. Compared to July 2012, the average price increased by $2,542 or 4.8 percent.

The June drop in sales volume proved to be temporary, as July sales numbers rebounded nicely.

Average prices are calculated using data submitted to NADA from manufacturers and dealers.

Interestingly, as average prices decreased slightly, the average odometer reading on used tractors sold decreased by a more significant amount. July’s average mileage was 536,623, a decline of 5.3 percent or 29,869 miles from the June average. Typically, lower mileage tractors draw increased prices, a trend that did not occur in July. The July mileage figure was 20,741 or 3.7 percent lower than the average for the same month in 2012.

The Guide attributes the lower mileage figure to an influx of 2009 and 2010 model year tractors into the market as fleets seek to upgrade. Used tractor buyers have exhibited a preference for models manufactured pre-DEF, however, the market for those trucks with reasonable mileage totals continues to shrink.

The Guide expects pricing to continue rising while mileage continues downward as more of the newer models become available on the used tractor retail market.

On the wholesale market, which consolidates data from auction and dealer transactions, volume has fluctuated over the past few months. Average pricing, which had declined somewhat for June, rebounded with a $844 per tractor increase, a gain of 3.3 percent, to bring the average to $25,595. 

Average mileage increased over June by 3,288 or a half-percent to 687,987, and the average age of tractors sold on the wholesale market was 86 months, one month older than June’s average.

According to NADA Senior Analyst and Product Manager Chris Visser, “the steadily improving economy should support gradual improvement in the construction market. Highway tractors with under 600K will continue to bring extremely strong money, despite a steadily increasing supply of 2009 and newer tractors.”

The Trucker staff can be reached to comment on this article at editor@thetrucker.com.

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