Sandhills Global’s October 2024 U.S. construction report revealed that inventory levels are trending up, down and steady for used heavy-duty construction equipment, used lifts and used medium-duty construction equipment, respectively. Asking and auction values were down for medium- and heavy-duty equipment, though are trending slightly upward for used lifts.
U.S. Used Medium-Duty Construction Equipment
- Inventory levels continued a steady trend in this market, which includes used skid steers, loader backhoes, and mini excavators in Sandhills’ U.S. marketplaces. Inventory levels were down 3.34% M/M and up 26.58% Y/Y in October. Track skid steers showed the greatest M/M decrease, down 4.12%, while wheel skid steers showed the largest Y/Y increase, up 35.96%.
- Continuing a downward trend for the seventh consecutive month, asking values ticked up 0.3% M/M but fell 5.34% Y/Y. Track skid steer asking values decreased the most Y/Y, down 7.58%. Loader backhoes showed the greatest M/M increase, up 1.92% M/M.
- Auction values have also been trending downward for seven months in a row. Auction values were up 0.36% M/M but down 8.24% Y/Y in October. The wheel skid steer category showed the greatest Y/Y decrease at 11.69%.
U.S. Used Heavy-Duty Construction Equipment
- Inventory levels have been trending up for nine months in a row in this market, which includes crawler excavators, dozers, and wheel loaders in Sandhills’ U.S. marketplaces. Inventory levels dipped 1.85% lower M/M but were 19.26% higher than year-ago levels in October. These increases were primarily driven by the wheel loader category, with inventory up 35.85% Y/Y.
- Asking values have been trending down for seven months. This continued in October with decreases of 2.36% M/M and 5.82% Y/Y. Crawler excavator asking values decreased the most Y/Y with an 8.62% drop.
- Auction values have been falling faster than asking values. Continuing a seven-month-long downward trend, auction values fell 2.15% M/M and 10.29% Y/Y in October. Again, crawler excavators led these decreases, with auction values dropping 13.68% Y/Y.
U.S. Used Lifts
- Used lifting equipment inventory levels were down 2.92% M/M in October but 17.9% higher than year-ago levels. Inventory is currently trending upward. Sandhills noted the largest category increase among telehandlers, with inventory up 50.73% Y/Y.
- Asking values were up 1.02% M/M and down 6.54% Y/Y and are trending steady. Used pneumatic-tire forklifts showed the largest decrease, with auction values down 12.1% Y/Y.
- Auction values posted a marginal increase of 0.07% M/M but fell 10.99% Y/Y. Auction values are currently steady. The used pneumatic-tire forklift category also led the way with auction value decreases, down 17.06% Y/Y.
Sandhills also released its September 2024 construction report for Canada.
