Sandhills Global released its May 2024 Truck/Trailer report, finding that inventory levels are trending upward for various equipment types, while asking and auction values are consistently posting sideways trends.
U.S. Heavy-Duty Trucks
- Inventory levels in this market rose 3.9% month over month in May and fell 21.83% year over year, but maintained a steady trend. Used sleeper trucks led other categories in inventory level changes, both M/M, with a 6.38% increase, and Y/Y, with a 35.37% decrease.
- Asking values in this market have also been trending sideways, with a marginal 0.19% increase M/M and a 2.51% decrease Y/Y in May. The used sleeper truck category had the largest M/M asking value increase at 1.29%, while used day cab trucks had the largest Y/Y decrease at 5.62%.
- Auction values posted small increases of 0.67% M/M and 0.38% Y/Y in May and are trending upward. Used sleeper trucks led other categories in M/M auction value increases, up 2.63%, while used day cab trucks posted the largest Y/Y auction value drop at 7.10%.
U.S. Used Semi-Trailers
- Inventory levels in the U.S. used semi-trailer market have maintained a steady trend. In May, inventory increased by 3.41% M/M, but was 11.2% lower than year-ago levels. The used reefer trailer category showed the largest M/M inventory increase at 10.49%, while used dry van trailers had the largest per-category Y/Y decrease at 18.29%.
- Asking values are trending up, with a 0.91% M/M increase and a 2.92% Y/Y decrease in May. The used reefer trailer category drove M/M asking value increases with a 6.31% jump. The used flatbed trailer category led in Y/Y asking value decreases, down 4.05%.
- Although auction values decreased by 0.81% M/M in May, they increased 2.05% Y/Y and are trending up. Notably, used dry van trailers showed the largest M/M auction value decrease at 5.31%, and used flatbed trailers had the largest Y/Y increase at 3.67%.
U.S. Used Medium-Duty Trucks
- Inventory levels in the U.S. used medium-duty trucks market continue to trend upward. In May, inventory was up 1.83% M/M and 25.79% Y/Y. The used moving box truck category posted the largest M/M inventory increase at 19.51%, while used reefer box trucks had the largest per-category Y/Y inventory increase at 85.92%.
- Asking and auction values in this market have been trending downward for nine months. In May, asking values declined 0.97% M/M and 2.83% Y/Y, led by decreases in the used stake truck category, down 5.62% M/M, and the used moving truck category, down 7.86% Y/Y.
- Auction values decreased by 0.55% M/M and 1.73% Y/Y in May. Category leaders were used stake trucks, with auction values decreasing 5.89% M/M, and used reefer box trucks, with auction values down 6.84% Y/Y.
