According to recent market reports from Sandhills Global, used heavy-duty truck and semi-trailer inventory levels have experienced consecutive months of increases as well as a decrease in auction values. Previous reports further emphasized the ways in which increased inventory levels historically precede auction value declines, which in turn are followed by declines in asking values. The latest market data, included in the newest Sandhills market reports for June, show that these inventory and auction value trends are finally prompting declines in asking values.

Inventory levels for used construction and agricultural equipment, meanwhile, remain historically low, which allows for auction and asking values to continue their ascent. However, there are some indications that used medium-duty construction equipment values may decrease in the near future.

The key metric used in all of Sandhills’ market reports is the Sandhills Equipment Value Index (EVI). The Sandhills EVI data include equipment available in auction and retail markets as well as model year equipment actively in use. Regional EVI data is available for the United States (and key geographic regions within) and Canada.

Sandhills’ market reports highlight the most significant changes in Sandhills’ used heavy-duty truck, construction equipment and farm machinery markets.

U.S. Used Heavy-Duty Trucks EVI and Inventory

Inventory for the U.S. used heavy-duty truck market, which includes used sleeper and day cab trucks, showed a positive year-over-year inventory level in June, marking the first year-over-year increase since Q2/20 and the fourth consecutive month of inventory increases. Inventory increased 12.4% month over month and 3.2% year over year in June.

Sandhills’ market reports showed auction value decreases in this category for the third consecutive month. Auction EVI decreased 5.9% month over month and increased 37% year over year in June.

June marked the first month since Q2/20 that asking values showed a decrease. Asking EVI decreased 1.9% month over month and increased 52% year over year.

U.S. Used Semi-Trailers EVI and Inventory

The U.S. used semi-trailers category, which includes used dry van, flatbed and drop-deck trailers, showed trends that were similar to the used heavy-duty truck category, with the first positive year-over-year inventory increase since Q2/20 recorded this June. Inventory increased 6.5% month over month and 4.5% year over year.

Auction EVI decreased 10.5% month over month in this category, marking the third straight month of month-over-month decreases, and increased 33% year over year. Meanwhile, asking EVI decreased 4.6% month over month and increased 54% year over year, marking the first time since late 2020 that used semi-trailers posted a month-over-month asking EVI decrease.

U.S. Used Heavy-Duty Construction Equipment EVI and Inventory

Inventory levels remain steady in the U.S. used heavy-duty construction market, which includes used crawler excavators, dozers and wheel loaders, but it appears inventory levels may increase soon. Inventory increased 2.7% month over month and decreased 43% year over year in June.

Auction and asking values for used heavy-duty construction equipment remained steady year over year. Auction EVI decreased 1% month over month and increased 7% year over year in June, while asking EVI decreased 0.7% month over month and increased 4.8% year over year.

U.S. Used Medium-Duty Construction Equipment EVI and Inventory

Inventory levels had remained steady for the used medium-duty construction equipment category, which includes skid steers, loader backhoes and mini-excavators, but notably jumped 7.4% month over month in June. Year-over-year inventory levels were down 41% in June.

Auction and asking values in this category have dipped slightly since May. Auction EVI decreased 2.6% month over month and increased 10.5% year over year in June, while asking EVI decreased 1% month over month and increased 12.6% year over year.

U.S. Used Farm Equipment EVI and Inventory

Inventory declines leveled off in the used farm equipment category, which includes combines and 100-plus-horsepower tractors. Inventory decreased 1.1% month over month and 28% year over year. Auction and asking values, meanwhile, continued to rise. Auction EVI increased 0.8% month over month and 11% year over year, while asking EVI increased 1.6% month over month and 9.2% year over year.

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