This graph compares the current resale prices of heavy duty commercial trucks on the market in comparison to their respective manufacturer specified prices during each particular model year.
Key Takeaways for Decision Makers
FINANCE: Between both heavy and medium duty trucks, the 2014 models hold the highest retention rate.
INSURANCE: Class 4-6 trucks show a slower depreciation between model years than 7-8 due to significantly higher mileage on the heavy duty trucks.
Following the trend of increases and decreases in the used truck market is quite important, but the average in which these trucks retain their original prices is important for new truck purchasing as well as financing the vehicles. Looking at the 2014 calendar year specifically, there is a steady decline between model years in average prices for both heavy and medium duty. There is however a difference between the heavy and medium duty price retention for all model years. Medium duty trucks held closer to the original MSRP than heavy duty. This has a lot to do with medium duty trucks costing less new as well as the different types of usage between the two.
With heavy duty trucks used primarily for long-haul trips, the mileage stacks up quickly whereas the day-to-day usage of a medium duty truck becomes easier to maintain. The most significant reason for the lower percentages of price retention on heavy duty trucks is that the average used selling price of a 2015 and 2014 truck drops much lower than the same model year medium duty truck. Despite the even depreciation throughout the remaining years, this initial drop in price in the first two years resulted in a lower starting point than medium trucks.
This graph compares the current resale prices of medium duty commercial trucks on the market in comparison to their respective manufacturer specified prices during each particular model year.
Being that 2015 trucks were brand new during 2014, the average prices for medium duty trucks were almost identical to original MSRPs. Prices on 2014 medium duty were only slightly down from the 2015 models. The first significant drop in price was not until the 2012 models. This is quite different from the heavy duty trucks as the 2015 and 2014’s were already down from the MSRP’s given that these more expensive trucks probably do not actually sell at the suggested prices given by the manufacturer so this immediate gap between original and used prices should not be a concern for the type of depreciation that occurs within the first year of ownership. Depreciation between model years after 2013 on heavy trucks falls alongside the same curve as medium duty trucks.
