According to Sandhills Global, inventory levels for used tractors (100+ horsepower), used planets, used combines and used compact and utility tractors continued to trend downward month over month, though most posted year-over-year increases.
U.S. Used Tractors 100 Horsepower and Greater
- Inventory levels in this category experienced a marginal month over month decrease in June but were up 40.37% compared to last year’s figure. Inventory levels are trending sideways.
- Values continued a downward trend in June. Asking values rose less than 1% M/M in June, were up 3.89% YOY, and are trending down.
- Auction values continue to fall faster than asking values, increasing the separation between the two, referred to as the EVI spread. Following consecutive monthly decreases, auction values fell 3.53% M/M and 6.09% YOY in June.
- EVI spread increased to 45% in June, exceeding the historic 39% peak for this category observed in 2015.
U.S. Used Planters
- Following seasonal declines, used planter inventory levels ticked down 0.23% M/M in June but were up 16.22% YOY and are trending upward.
- After months of decreases, asking values decreased 1.65% M/M and remained nearly steady YOY with a marginal increase.
- Auction values increased 0.97% M/M, dropped 19.24% YOY, and are trending down.
- The rapid decline in auction values pushed the EVI spread wider. The EVI spread for the used planter market reached 73% in June, exceeding historic highs last seen in 2015.
U.S. Used Combines
- The U.S. used combine market showed slight relief from inventory increases in June. Levels decreased 1.59% M/M, rose 11.1% YOY, and are now trending sideways.
- Asking values remained steady M/M and are trending sideways, but posted a noteworthy 11.24% YOY increase.
- Auction values followed months of declines with a 2.83% M/M decrease in June but remained 1.9% higher than the previous year’s figure.
- EVI spread has increased dramatically for used combines over the past few months, reaching 57% in June.
U.S. Used Compact and Utility Tractors
- Inventory in the used compact and utility tractor market continued downward trends in inventory levels and values in June. Inventory levels decreased 1.27% M/M and rose 2.77% YOY.
- Following months of decreases, asking values were down 0.94% M/M and 3.21% YOY.
- Auction values dipped 0.56% lower M/M after months of decreases and fell 4.16% YOY.
The full report is available online: https://sandhills.showpad.com/share/niSch1fpkY4eZz86UPDEt.
Sandhills Global also released its May 2024 Construction Market Report for Canada. The full report is available online: https://sandhills.showpad.com/share/UCrWe8VrT534onyzUDkqJ.
