Sandhills Global’s September 2024 U.S. construction report revealed that inventory levels are trending upward for used heavy- and medium-duty construction equipment, as well as used lifts. Asking values were up for heavy-duty equipment and lifts, though they continued to fall for medium-duty equipment.
U.S. Used Heavy-Duty Construction Equipment
- Inventory levels have been rising for months in this market, which includes used crawler excavators, dozers, and wheel loaders in Sandhills’ U.S. marketplaces. Inventory levels were up 0.78% M/M and 21.54% YOY. However, no categories have reached pre-COVID levels yet.
- Asking values increased by 0.46% M/M but are trending downward and were 4.35% lower YOY.
- Auction values decreased by 0.6% M/M and 9.49% YOY, continuing months of declines. The used excavator and wheel loader categories posted YOY decreases slightly above 10%.
U.S. Used Medium-Duty Construction Equipment
- Inventory levels are trending upward in this market, which includes used skid steers, loader backhoes, and mini excavators in Sandhills’ U.S. marketplaces. Inventory was down 1.62% M/M but up 36.26% YOY in September. While all categories showed negligible M/M inventory decreases, track skid steers exhibited the strongest YOY increase at 43.28%, followed by wheel skid steers, up 42.62%.
- Asking and auction values have been falling for several months. Asking values were down 0.63% M/M and 6.23% YOY in September.
- Auction values decreased by 0.62% M/M and 9.59% YOY. The used skid steer and mini excavator categories each posted a roughly 10% YOY drop in auction values.
U.S. Used Lifts
- Inventory levels in this market increased by 5.6% M/M and 21.54% YOY following months of growth. The used rough terrain scissor lift category exhibited the most dramatic increases, up 12.9% M/M and 43.34% YOY, compared to other used lift equipment categories. Also noteworthy, inventory in the used telehandler category was 62.1% higher than year-ago levels.
- Asking values were up 1.17% M/M but down 8.15% YOY and are trending downward. In the used pneumatic-tire and cushion tire forklift categories, asking values were down 12.6% and 12.7% YOY, respectively.
- Auction values were up 1.14% M/M, down 12.62% YOY, and are trending sideways. Again, the used pneumatic-tire and cushion tire forklift categories showed the most significant YOY decreases, down 20.06% and 18.83%, respectively.
Sandhills also released its September 2024 construction report for Canada.
