Used truck pricing strong amid weak retail sales figures
According to the ATD/NADA Official Commercial Truck Guide Update released Monday, retail sales per heavy-duty truck dealership dropped dramatically in June, although pricing remained extremely strong.
The wholesale market returned opposite results, with volume recovering moderately from May but with lower pricing.
The NADA report says it considers “the drop in retail volume a typical late spring/early summer “pause,” and expect July’s numbers to come in closer to the year-to-date average.
Retail sales data submitted by dealers and OEM’s to NADA shows the average price paid for a sleeper tractor in June was $52,673 – the fourth month in a row to set a 5+ year record high.
June’s results were $1,027 higher than May, and $3,484 higher than June of last year.
June’s higher pricing came despite significantly higher average mileage – the highest in at least five years. June’s mileage (566,492) was 33,199 (or 5.9%) higher than the previous month, and 19,388 higher than June 2012. By comparison, the average used truck sold in June of 2008 had mileage more than 100,000 lower than June 2013, according to NADA.
“The fact that pricing remains at record levels is evidence of continued strong market appetite for trucks with under 600,000 miles,” according to the report.
The avaerge age for a used truck in June was 75 months, identical to May and one month older than last June. Average age increased mildly in the first quarter of 2012, and has fluctuated between 75 and 78 months since then, according to NADA.