Used heavy-duty truck values decline as inventory grows
July 6, 2022 By Don Horne
The latest market data are showing inventory and auction value trends are finally prompting declines in asking values for used heavy-duty trucks, as recent Sandhills Global market reports have identified consecutive months of increases in used heavy-duty truck and semi-trailer inventory levels, as well as decreases in auction 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).
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, 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, allowing Sandhills to reflect machine values by location.
- Inventory levels remain steady for this category, which includes used crawler excavators, dozers, and wheel loaders, but it appears inventory levels may increase soon. Inventory increased 2.7% M/M and decreased 43% YOY in June.
- Auction and asking values for used heavy-duty construction equipment have remained steady YOY. Auction EVI decreased 1% M/M and increased 7% YOY in June, while asking EVI decreased 0.7% M/M and increased 4.8% YOY.
- Inventory levels had also remained steady for the used medium-duty construction equipment category, which includes skid steers, loader backhoes, and mini-excavators, but notably jumped 7.4% M/M in June. YOY inventory levels were down 41% in June.
- Auction and asking values in this category have dipped slightly since May. Auction EVI decreased 2.6% M/M and increased 10.5% YOY, while asking EVI decreased 1% M/M and increased 12.6% YOY.
- Inventory for this market, which includes used sleeper and day cab trucks, showed a positive year-over-year inventory level in June; this is the first YOY increase noted since Q2 2020, and represents the fourth consecutive month of inventory increases. Inventory increased 12.4% month/month and 3.2% YOY in June.
- Sandhills’ market reports show auction value decreases in this category for the third consecutive month. Auction EVI decreased 5.9% M/M and increased 37% YOY in June.
- June marked the first month since Q2 2020 that asking values showed a decrease. Asking EVI decreased 1.9% M/M and increased 52% YOY.
For more information, or to receive detailed analysis from Sandhills Global, contact us at firstname.lastname@example.org.
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