A new Sandhills Global market report highlights how the continuing decline in used inventory since the beginning of 2021 has affected the value of key equipment segments in the agriculture, construction and commercial trucking industries. Reduced inventory numbers routinely exhibit an inverse relationship with used equipment values, and with inventory levels in some segments surpassing historically low inventory volumes, used equipment values are also trending upward to historic highs.

Many used equipment markets experienced growing sales activity in last half of 2020, and inventory levels in 2021 have continued to drop in recent months as market demand for equipment has steadily increased. Notably, the Sandhills Equipment Value Index (EVI) is charting historically low inventory volumes in tractors in the 175- to 299-horsepower range, 18- to 36-ton crawler excavators and heavy-duty sleeper trucks.

U.S. Used Heavy-Duty Sleeper Trucks

• Since the start of 2021, used sleeper truck inventory has shown an average 10% to 15% month-over-month decline, continually surpassing previous historic lows in inventory.
• Monthly sleeper truck values have increased by an average 2% over the last three quarters, according to the Sandhills EVI.

U.S. Used Excavators

• The asking values for 18- to 36-metric-ton crawler excavators have increased more than $7,000 since the end of 2020, with inventory volumes down 40% year over year. The current inventory level has fallen below any previous low seen over the last five years.

U.S. Used Tractors

• Inventory for used tractors rated between 175 and 299 horsepower are down 42% year over year, nearly reaching the historical lows of 2013.
• Asking values for used tractors in the 175- to 299-horsepower group have trended upwards since Q3/20, with steady month-over-month increases. March asking values were up 3% year over year.