Sandhills Global released its January 2025 Trucks & Trailers Equipment report, highlighting a continued downward trend in inventory levels for medium- and heavy-duty trucks and semitrailers.

U.S. Heavy-Duty Trucks

• Inventory levels of U.S. used heavy-duty trucks continued to decline in January, down 10.23% M/M and 19.62% Y/Y. The used sleeper truck category drove the overall inventory decline, posting decreases of 13.32% M/M and 38.69% Y/Y.
• Asking values showed a marginal M/M increase of 0.24% but dropped 7.85% Y/Y and are trending down. The greatest changes among categories occurred with used day cab trucks, with asking values up 0.39% M/M and down 9.01% Y/Y. Asking values for used sleeper trucks have been trending down for 27 months.
• Auction values were up 2.04% M/M in January but down 7.02% Y/Y. Used day cab truck auction values led the way compared to other categories, increasing 2.27% M/M and decreasing 9.57% Y/Y.

U.S. Used Semitrailers

• U.S. used semitrailer inventory levels have been trending down for months. This trend continued in January with inventory decreases of 11.11% M/M and 14.49% Y/Y. The used dry van trailer category exhibited the largest monthly inventory decline, down 16.73% M/M, while used reefer trailers showed the steepest Y/Y decline, down 27.94%.
• Asking values continued a 23-month-long downward trend in January, posting a 2.19% M/M increase but a 12.17% Y/Y decrease. Used dry van trailers led other categories in M/M asking value increases, up 4.88%. The used reefer trailer category posted the largest Y/Y decrease, down 16.34%.
• Auction values rose 6.1% M/M, fell 8.57% Y/Y, and are now on a steady trend. Used dry van trailer category auction values increased 10.3% M/M, more than other categories, while used reefer trailers led other categories in Y/Y declines, down 18.63%.

U.S. Used Medium-Duty Trucks

• Sandhills’ U.S. used medium-duty truck market includes box trucks, flatbeds, and cab and chassis trucks. Inventory in this market was down 1.39% M/M in January but 18.31% higher than year-ago levels. The categories in which the greatest inventory changes occurred were used stake trucks, down 6.42% M/M, and used reefer box trucks, up by a substantial 99.2% Y/Y.
• Asking and auction values in this market have been trending down for five months. In January, asking values decreased 0.22% M/M and 5.09% Y/Y. Used reefer box truck M/M asking values declined more than other categories, decreasing by 2.72%. The used dry cargo delivery box truck category experienced an 8.67% Y/Y asking value decrease, the largest change among all categories.
• Auction values followed a similar pattern, decreasing by 0.79% M/M and 6.56% Y/Y. Leading other categories in auction value changes were used cab and chassis trucks, down 2.75% M/M, and used dry cargo delivery box trucks, down 13.97% Y/Y.