Inventory levels in the U.S. used heavy-duty construction equipment market declined in February, continuing a downward trend despite a year-over-year increase, according to the latest report from Sandhills Global. The report showed a 1.52% month-over-month decrease in inventory, marking a potential shift back into negative year-over-year territory if declines persist.
Among specific equipment categories, used crawler dozers saw the most significant month-over-month inventory decline at 1.97%, while used wheel loaders posted the largest year-over-year inventory increase at 16.79%.
Asking and auction values held steady in February, with asking values rising 2.1% month over month but falling 3.8% year over year. The used crawler dozer category led month-over-month asking value increases at 3.66%, while used crawler excavators recorded the steepest year-over-year decrease at 6.12%.
Auction values followed a similar pattern, increasing 2.92% month over month while slipping 3.51% year over year. Used crawler dozers again showed the most significant month-over-month auction value rise at 4.98%, whereas used wheel loaders saw the largest year-over-year auction value decline at 6.81%.
Medium-Duty Equipment Sees Modest Inventory Decline
The U.S. used medium-duty construction equipment market, encompassing skid steers, loader backhoes, and mini excavators, experienced a slight 0.15% month-over-month inventory decrease in February. However, year-over-year inventory levels grew 8%, driven in part by a 12.51% increase in the used track and wheel skid steer categories. The used mini excavator category (up to 12,000 pounds) posted the largest month-over-month inventory decline at 2.39%.
Asking values in this category edged up 0.07% month over month, led by used loader backhoes, which rose 1.22%. However, values dipped 5.85% year over year, with used compact track loaders experiencing the largest year-over-year asking value decrease at 7.76%.
Auction values remained relatively stable, increasing 1.76% month over month but declining 5.31% year over year. Used loader backhoes led month-over-month auction value gains at 4.28%, while used compact track loaders saw the most significant year-over-year decline at 6.73%.
U.S. Used Lift Market Sees Growth in Inventory but Falling Values
The U.S. used lift equipment market continued its upward trajectory in February, with inventory levels rising 1.87% month over month and 16.72% year over year. The cushion tire forklift category saw the largest month-over-month inventory increase at 7.14%, while used rough terrain scissor lifts drove the year-over-year surge with a 35.44% increase.
Despite higher inventory, asking values trended downward, declining 1.02% month over month and 8.12% year over year. The used telescopic boom lift category saw the most significant month-over-month asking value drop at 4.76%, while used slab scissor lifts led year-over-year decreases at 13.1%.
Auction values also declined, falling 1.11% month over month and 6.4% year over year. Used telescopic boom lifts recorded the steepest month-over-month auction value decline at 7.01%, while used cushion tire forklifts posted the most significant year-over-year drop at 12.6%.
As the market continues to adjust, trends in inventory and values will be key indicators of industry health in the coming months.
