Late-model truck depreciation is slowing but values continue to fall in the used truck space, J.D. Power reported Monday in its November 2023 Commercial Truck Guidelines report.
In the auction market, pricing in J.D. Power's benchmark model was as follows:
J.D. Power reports trucks newer than five years of age depreciated less than last month, but on average the late-model segment continued to lose value in October. The company says 4- to 6-year-old trucks brought 4.6% less money than in September, and 37.5% less money than October 2022.
Average auction selling price for 3- to 6-year-old sleeper tractors, adjusted for mileage.
In the first 10 months of 2023, late-model sleepers brought 41.7% less money than the same period of 2022. Monthly depreciation in 2023 is averaging 4.4%. J.D. Power adds "values for the newest model years available in the marketplace are just under the strong pre-pandemic period of 2018 in nominal figures, or just more than 20% less if adjusted for inflation."
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