MCLEAN, Va., Jan. 15, 2016 /PRNewswire/ -- An analysis of how daycab and construction trucks were valued within the used commercial truck market this past year was recently published by commercial truck analysts at NADA Used Car Guide, a division of J.D. Power and Associates.
The free report notes the typical used daycab sold at retail is just over 100 months old and has 425,000 miles. This means daycabs are 28 months older with 65,000 fewer miles than the typical sleeper tractor. Original owners hold on to daycabs longer than sleepers, and they accumulate fewer miles per year.
Adjusted for mileage, 3- to 5-year-old daycabs sold for an average of 8 percent less money than their sleeper counterparts, all else being equal.
According to Chris Visser, senior commercial truck analyst at NADA Used Car Guide, "The devaluation in the wholesale channel has not yet fully carried over to the retail channel. We expect this price difference to shrink going forward due to the widening supply gap between sleepers and daycabs."
The January report summed up the market performance of construction trucks during 2015 as being very similar to their run in 2014. On average, the typical construction truck sold in 2015 was 128 months old and had just over 250,000 miles. Compared to 2014, trucks sold were 8 months newer and had about 35,000 fewer miles. Universal average pricing was nearly identical, at just over $63,000 in both years. Overall, there were about 7 percent fewer construction trucks sold in 2015 than 2014.
Trucks of model year 2007 saw the highest sales volume in both periods, mainly because the period was the last high-build year before the recession. Availability of newer trucks improved in 2015, with the 2009 and 2010 model years seeing the most notable increase year over year.
This increased supply resulted in notable price erosion for 6- and 7-year-old trucks. The average 6-year-old construction truck in 2015 brought 6.6 percent less money, while the average 7-year-old unit brought 7.4 percent less.
The report concludes availability of newer trucks should continue to improve, as the higher-build 2012 and 2013 model years continue to return to the secondary market in greater numbers. Demand for construction trucks by sector should run slightly behind 2015 over the next few quarters due to slowing economic conditions.
About NADA Used Car Guide
Since 1933, NADA Used Car Guide® has earned its reputation as the leading provider of vehicle valuation products, services and information to businesses throughout the United States and worldwide. Its editorial team collects and analyzes over 1 million combined automotive and truck wholesale and retail transactions per month. Its guidebooks, auction data, analysis and data solutions offer automotive/truck, finance, insurance and government professionals the timely information and reliable solutions they need to make better business decisions. Visit nada.com/b2b to learn more. NADA Used Car Guide® and its logo are registered trademarks of National Automobile Dealers Association, used under license by J.D. Power and Associates.
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NADA Used Car Guide®, a division of J.D. Power and Associates
SOURCE NADA Used Car Guide