In Sandhills' U.S. marketplaces for lift equipment, inventory levels rose 7.9% M/M and 17.03% YOY in August following consecutive monthly increases.
Asking values dropped slightly M/M, by 0.03%, continuing month of decreases. Asking values were down 10.37% YOY.
Auction values increased 0.48% M/M but are trending downward and were 15.69% lower than last year.
In
Sandhills' transportation marketplaces, heavy-duty truck inventory levels are decreasing, but semitrailer inventory continues to rise, propelled by increases in dry van and flatbed trailers. "With increased pressure from rising inventory and concerns surrounding freight rates and the current freight capacity, dealers are pricing aggressively to move inventory," says Truck Paper Manager Scott Lubischer.
Sandhills' used medium- and heavy-duty construction equipment markets are following trends similar to those of semitrailers as inventory levels increased and values decreased in August. "With high interest rates and an upcoming election, the construction industry is facing uncertainty," says Director of North American Construction Stephanie Olberding. "As our reports indicate again this month, inventory levels continue to climb while values decrease, forcing sellers to adjust pricing."
The key metric used in all of
Sandhills' market reports is the Sandhills Equipment Value Index (EVI). Buyers and sellers can use the information in the Sandhills EVI to monitor equipment markets and maximize returns on acquisition, liquidation, and related business decisions. The Sandhills EVI data include equipment available in auction and retail markets and model-year equipment actively in use. EVI spread measures the percentage of asking values over auction values.
Additional Market Report Takeaways
Sandhills market reports highlight the most significant changes in Sandhills' used heavy-duty truck, semitrailer, farm machinery, and construction equipment markets. Key points from the current reports are listed below. Full reports are available upon request.
U.S. Used Tractors 100 Horsepower and Greater
Inventory levels in this market rose 2.9% month over month in August, marking several consecutive months of growth. Inventory was 37.09% higher than year-ago levels. Driving these increases are used high-horsepower tractors (those 300 HP and greater), with inventory levels up 4.17% M/M and 62.48% year over year.
Values have been dropping for months, and this trend continued in August, as asking values dipped 1.28% lower M/M and 2.62% lower YOY.
Auction values decreased by 1.79% M/M and 13.14% YOY. Declining auction values continue to outpace declining asking prices within the farm equipment industry. For example, the EVI spread for used high-horsepower tractors rose to 48% in August.
U.S. Used Combines
August inventory levels of used combines in Sandhills' U.S. markets decreased by 2.58% M/M, increased 10.44% YOY, and are currently stable.
Asking values inched 0.56% lower M/M, rose 3.83% YOY, and are trending downward.
Auction values fell 2.03% M/M and 4.83% YOY following months of decreases. With auction values decreasing at a faster rate than asking values, the EVI spread for used combines reached 57% in August, far exceeding previous highs observed in 2015.
U.S. Used Self-Propelled Sprayers
Inventory levels in this market were up 4.39% M/M and 38.39% YOY and are trending upward.
Asking values ticked up by 0.6% M/M in August but decreased by 0.67% YOY and are trending down.
Declines in auction values were more pronounced, with drops of 2.85% M/M and 12.82% YOY after months of decreases. The EVI spread for self-propelled sprayers reached 52% in August, exceeding the 50% record high set in 2015.
U.S. Used Planters
In the U.S. planting equipment market, used planter inventory levels were up 4.06% M/M and 8.19% YOY in August and are currently stable.
Asking values increased by 4.94% M/M, decreased by 6.84% YOY, and are trending sideways.
Auction values exhibited a similar pattern in August, increasing 5.96% M/M, decreasing 21.99% YOY, and trending sideways. The EVI spread for used planters, which is the result of auction values falling faster than asking values, was 68% in August; that marks a decrease from its 78% peak in May, but it remains close to historically high levels last seen in 2015.
U.S. Used Compact and Utility Tractors
Inventory levels in this market have been falling for several months. In August, inventory was down 1.03% M/M and 11.5% YOY.
Asking values increased 0.36% M/M, decreased 4.47% YOY, and are trending down.
Auction values increased 0.65% M/M, decreased 6.89% YOY, and are also trending down.
U.S. Used Heavy-Duty Trucks
Inventory levels in this market fell 2.75% M/M and 3.88% YOY in August but are fairly stable, trending sideways. Notably, used sleeper truck and used day cab inventory levels are now roughly equivalent; this marks a shift, as sleeper truck inventory has historically been double that of day cabs. By contrast, used sleeper trucks and day cabs in Sandhills' Canadian marketplaces are adhering to historical norms, with sleeper truck inventory more than double that of day cabs.
Asking values decreased 1.15% M/M and 17.16% YOY and are trending down.
Auction values showed a slight decline of 0.56% M/M and a more significant 18.42% YOY drop in August. Auction values are trending sideways.
U.S. Used Semitrailers
The used semitrailer market posted increases of 1.93% M/M and 28.48% YOY after several months of growth. The used dry van and flatbed trailer categories are driving inventory growth in this market. Dry van trailer inventory was up 3.36% M/M and 50.77% YOY in August, while flatbed trailer inventory rose 7.71% M/M and 38.57% YOY.
Used semitrailer asking values were down 2.66% M/M and 18.44% YOY and are trending down. Used dry van and reefer trailers led the way in price decreases; dry van asking prices decreased 6.95% M/M and 26.43% YOY in August, while reefer van asking prices dropped 3.93% M/M and 25.49% YOY.
Used semitrailer auction values declined 3.75% M/M and 18.52% YOY in August. Used dry van and reefer trailers showed roughly comparable drops but with more significant YOY decreases; dry van auction values were down 5.35% M/M and 23.66% YOY, while reefer trailer auction values were down 3.32% M/M and 25.18% YOY.
U.S. Used Medium-Duty Trucks
August inventory levels of used medium-duty trucks, which include box trucks, flatbed trucks, and cab and chassis trucks, fell 4.64% M/M, increased 11.27% YOY, and are trending sideways.
Following months of decreases, asking values were down 2.49% M/M and 16.8% YOY.
Auction values have also been decreasing for several months, and this continued in August with declines of 3.49% M/M and 24.15% YOY.
U.S. Used Heavy-Duty Construction Equipment
Used heavy-duty construction equipment inventory-including crawler excavators, dozers, and wheel loaders-has been accumulating on dealers' lots for months. This continued in August with increases of 2.48% M/M and 20.86% YOY. Wheel loaders posted the highest inventory gains, increasing 3.22% M/M and 31.65% YOY.
Conversely, asking values decreased 1.26% M/M and 5.59% YOY and are trending downward.
Auction values fell 1.64% M/M and 10.36% YOY as they continued to outpace asking value decreases, maintaining a value gap in this market.
U.S. Used Medium-Duty Construction Equipment
Used construction equipment in the medium-duty category, which includes skid steers, loader backhoes, and mini excavators, have seen months of inventory growth. August inventory levels were up 3.01% M/M and 42.68% YOY. Looking at specific categories within this market, used track skid steers showed the largest YOY inventory growth with a 53.61% increase and rose 1.9% M/M. Notably, used loader backhoe inventory levels rose 9.82% M/M and 19.79% YOY.
Both asking and auction values, however, continue to fall. Asking values decreased 0.68% M/M and 7.07% YOY in August.
Auction values fell 0.96% M/M and 10.7% YOY.
U.S. Used Lifts
In Sandhills' U.S. marketplaces for lift equipment, inventory levels rose 7.9% M/M and 17.03% YOY in August following consecutive monthly increases.
Asking values dropped slightly M/M, by 0.03%, continuing month of decreases. Asking values were down 10.37% YOY.
Auction values increased 0.48% M/M but are trending downward and were 15.69% lower than last year.
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About the
Sandhills Equipment Value Index
The Sandhills Equipment Value Index (EVI) is a principal gauge of the estimated market values of used assets-both currently and over time-across the construction, agricultural, and commercial trucking industries represented by Sandhills Global marketplaces, including AuctionTime , TractorHouse , MachineryTrader , TruckPaper , and other industry-specific equipment platforms. Powered by FleetEvaluator , Sandhills' proprietary asset valuation tool, Sandhills EVI provides useful insights into the ever-changing supply-and-demand conditions for each industry.
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