Decreasing Inventory Levels Contribute to Value Increases in Used Equipment
JAN 11, 2021 - 6:47 am
A new Sandhills Global market data report brought to light several interesting year-over-year value gains across the 10-plus-year age group in the used agriculture equipment, construction machinery and commercial truck markets.
According to the report from Sandhills Global, comparing December 2020 to December 2019, used agriculture equipment values were up (6.85% year over year), as were used truck values (4.94% year over year). Key segments in the 10- to 15-year age group helped to prop up these used equipment markets. Sandhills reported that the year-over-year value increases were tied to decreasing inventory levels and serve as a reminder that equipment values must be constantly re-assessed based on changing market conditions.
U.S. Used Heavy Duty Trucks
The Sandhills Used Truck Price Index indicated that used sleeper truck values increased 8.31% year over year and used day cabs were up 3.48% year over year. The 10- to 15-year age group within the day cab market led the way with a double-digit year-over-year increase.
U.S. Used Heavy Duty Construction Equipment
Drilling into the 10- to 15-year age group across construction categories, the Sandhills Used Construction Price Index showed a 12.2% year-over-year price improvement. This jump was highlighted by dozer values, which were up 19% year over year, and wheel loaders, which had values up 11% year over year.
U.S. Used Farm Equipment
The Sandhills Agriculture Used Price Index found that within the category of tractors rated at 175-plus horsepower, the 10- to 15-year age group displayed an average 9% year-over-year increase in price.
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