Sandhills Global released its August 2024 Construction Market Report for medium and heavy-duty construction equipment. The report outlines changes in inventory, asking and auction values over time.
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% Y/Y. Wheel loaders posted the highest inventory gains, increasing 3.22% M/M and 31.65% Y/Y.
- Conversely, asking values decreased 1.26% M/M and 5.59% Y/Y and are trending downward.
- Auction values fell 1.64% M/M and 10.36% Y/Y 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% Y/Y. Looking at specific categories within this market, used track skid steers showed the largest Y/Y 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% Y/Y.
- Both asking and auction values, however, continue to fall. Asking values decreased 0.68% M/M and 7.07% Y/Y in August.
- Auction values fell 0.96% M/M and 10.7% Y/Y.
U.S. Used Lifts
- In Sandhills’ U.S. marketplaces for lift equipment, inventory levels rose 7.9% M/M and 17.03% Y/Y 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% Y/Y.
- Auction values increased 0.48% M/M but are trending downward and were 15.69% lower than last year.
Sandhills Global also released its August 2024 Construction Market Report for Canada. The full report is available online: https://sandhills.showpad.com/share/8hrxq0NlWXtoffXYJGPXV.
