With the start of a new year there were many changes for the top four models from January. All four showed average age increases and the Caterpillar CS56B had the largest increase with the previous 7 months having an average age below 3, January’s was over 3 which was consistent with the beginning of 2016. This means the average age could again decrease in the coming months. The Peterbilt 335 had the highest average age of the models above 9 years in age since the Genie GS-1930 dropped throughout 2016 before jumping almost 10% in January.
The volume changes for the Caterpillar CS56B and Deere 568 year over year showed significantly larger market presence for both models. The CS56B has been on a continuous upward trend since January 2016 while the 568 had a large spike in volume between February and May 2016 before leveling out to where it is now with only a 4.1% drop between December and January. While the Genie GS-1930 had the smallest year over year percentage change in volume at 3.1%, there were a few spikes over the past year for this piece of equipment as well. May through September had a spike in market activity for this model while January appears to be a slower month for this model given their second and third smallest months were January 2016 and 2017. The Peterbilt 335 did not have any spikes in volume within the past year, but due to a much smaller number of vehicles on the market than the other three models, the year over year percentage drop appears drastic.
There were a few month over month spikes in FMV which should come as no surprise given the volume changes throughout the past year for a few of the models. The most noticeable FMV changes were on the Genie GS-1930. In March the volume increased causing the 8.6% drop in FMV before volume dropped back down causing the spike in FMV and this roller coaster continued until October. The Caterpillar CS56B showed relatively consistent FMV between March and June before a much larger increase during July where it stayed until there was another increase in October landing January 2017 almost 20% higher than January 2016. Surprisingly, the large spikes in volume for the Deere 568 between February and May did not impact FMV as percentage changes stayed between -2.3% and 0.6%. The year over year FMV difference for the Deere was -5.7%, which is the same as the Peterbilt 335. The 335 also had much smaller month over month FMV changes than the Genie and Caterpillar. The small FMV changes for the Peterbilt remain consistent with the small changes in both age and volume for the year.