With more new construction equipment and truck inventory available on dealer lots, auction prices for used units are trending downward, according to the latest Sandhills Global market report.
Pandemic-related shortages drove late-model prices up in 2021 and 2022, but the market is rebalancing as factories have since ramped up production.
Sandhills monitors used truck, semitrailer, farm machinery and construction equipment markets. Buyers and sellers can use the data tracked in its Equipment Value Index (EVI) to make acquisition, liquidation and related business decisions.
Below are the most significant changes Sandhills saw in its latest construction equipment, truck and aerial lift market reports:
U.S. Used Heavy-Duty Construction Equipment
- Inventory and values declined slightly in the past month. Inventory levels decreased 2.2% month-over-month but were up 11.12% year-over-year, putting pressure on values. Inventory is currently trending sideways.
- Asking and auction values show mixed year-over-year trends, with asking values up 1.43% and auction values down 5.34%. Asking values dipped 0.12% lower month-over-month after several months of decreases.
- Auction values were down 0.08% month-over-month after months of decreases. Used excavators have recently shown the most significant inventory and value changes, with lower operating weight models exhibiting the highest year-over-year volatility.
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U.S. Used Medium-Duty Construction Equipment
- This market experienced a slight month-over-month increase in inventory levels at 0.38%, but inventory levels are still 65.57% higher than a year ago.
- Asking values were lower by 0.89% month-over-month and 3.3% year-over-year after several months of decreases.
- Auction values also declined by 0.26% month-over-month and 8.25% year-over-year after months of decreases. Current market trends indicate a downward pressure on prices and an increase in inventory levels. Used compact track loaders and mini excavators have shown the largest year over year changes in inventory levels and values.
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U.S. Used Heavy-Duty Trucks
- Inventory levels of used heavy-duty trucks were 14.95% higher year over year in January but dropped 5.54% month over month and are now trending sideways.
- Asking and auction values both declined in January, continuing a 20-month trend currently driven by declines in sleeper truck values. Asking values were down 2.1% month-over-month and 19.16% year-over-year.
- Auction values dropped 2.32% month-over-month and 22.29% year-over-year, indicating weaker demand and an adequate supply of used heavy-duty trucks.
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U.S. Used Medium-Duty Trucks
- Inventory levels of used medium-duty trucks fell 3.44% month-over-month but were 26.93% higher than last year and are currently trending sideways.
- Sandhills observed a downward trend in values and demand in recent months, with lower values since mid-2022. In January, asking values declined 1.36% month-over-month and 13.82% year-over-year.
- Auction values dropped 1.66% month-over-month and 15.17% year-over-year. The box truck category has led in both asking and auction value declines.
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U.S. Used Lifts
- Inventory levels of used lifts declined 1.28% month-over-month but were 14.33% higher year-over-year and are trending sideways. Telehandlers are driving the inventory increases and putting pressure on values.
- Asking values inched up 0.61% month-over-month, declined 1.27% year-over-year, and are trending down.
- Auction values were up 1.35% month-over-month and down 9.31% year-over-year and are trending down.
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