Values for heavy-duty truck are falling at a slower rate while those for medium-duty models are remaining fairly consistent, according to new figures from vehicle industry data provider Black Book.
In July, heavy-duty late model trucks and tractors from 2012 through 2013, depreciated less than the groups of two-year to three-year old trucks and tractors have since October 2012. Heavy-duty construction/vocational trucks dropped an average of $267, while heavy-duty over the road trucks declined an average of $262 and regional tractors fell an average of $309.
“The older heavy-duty trucks and tractors from 2004 through 2011 have also continued to depreciate, but at a lower rate than they have in a while,” said Ricky Beggs, editorial director at Black Book.
Heavy-duty construction/vocational trucks from 2004 through 2011 dropped an average of $174, its smallest depreciation since August 2012. Heavy-duty over the road trucks and tractors depreciated an average $182, also the smallest decrease since August 2012 for the four to eleven year old units. Regional trucks and tractors fell an average of $184, which is $9 more than it decreased last month.
“Because of their more desirable price points, these later model trucks and tractors continue to be in high demand,” said Beggs.
Meantime, the medium-duty truck segment value movement has stayed consistent. “We see once again a drop in wholesale prices for the past month. The older model years, the 2004s through 2011s, dropped an average of $204. This is just $15 more than the previous month. It is also only a 1% change of the average segment price of $19,746," he said.
The newer model years, 2012 through 2013, also decreased in value during July. On average, that drop was $372, a 0.8% change, which is $75 less than the previous month’s depreciation, which was a 1.1% decline.
“As a comparison, one year ago the movement of the market from July to August 2013 fell $353 or 1.7%, so signs of improvement are present regarding the economy and especially commercial construction,” said Beggs
Starting with July, Black Book adjusted the model year mixes within its analysis. This change is for both the medium-duty and heavy-duty markets. The older group now contains the 2004 through 2011 model years while he newer model group now contains the 2012 and 2013 model years.