J.D. Power says September's auction numbers are still showing depreciation higher than normal.
Four- to six-year-old trucks brought in 5.6% less money in September than in August, and 37.1% less money than in September 2022. In the first nine months of 2023, late-model sleepers brought 37.6% less money than in the same period last year. Monthly depreciation this year is averaging 4.8%, J.D. Power says.
[RELATED: Report indicates September another tough month for used trucks]
For three- to seven-year-old trucks, average pricing for the benchmark truck was:
J.D. Power says because of the increasing number of trucks with missing titles, unverified mileage and other issues, individual model years may show month-over-month swings that are not necessarily representative of the actual market. However, the company says it's confident in the macro generalizations for September.
[RELATED: Trailer orders leapt forward in September]
Also not representative of actual market movement are the company's universal averages. J.D. Power says there was a spike of 2022 trucks sold in September. The average sleeper sold in September was 67 months old with 416,680 miles. It went for $71,681. Compared with August, September's average sleeper was four months newer with 31,872 fewer miles and brought $7,115 more. Compared with September 2022, the average sleeper was two months newer with 20,080 fewer miles and was $33,266 less.
