According to Sandhills Global’s latest marketplace reports, used heavy-duty trucks in Sandhills marketplaces continued to face challenges in December, as inventory levels, asking values and auction values all declined month over month.
U.S. Used Heavy-Duty Trucks
- Used heavy-duty trucks in Sandhills marketplaces continued to face challenges in December, as inventory levels, asking values and auction values all declined month over month. Inventory levels fell 4.8% month over month but remained higher than last year, up 30.48% year over year, indicating a persistent oversupply of trucks. Inventory levels are currently trending sideways.
- The heavy-duty truck market has been trending downward since mid-2022, mainly due to production and supply chain issues. Asking values have decreased for several consecutive months and continued that trend in December, with decreases of 1.82% month over month and 24.1% year over year.
- Auction values fell 3.37% month over month and 30.3% year over year, also following months of decreases.
U.S. Used Semitrailers
- Used semitrailer inventory levels rose slightly in December, up 2.08% month over month, reaching a level that is almost double that of last year (up 92.03% year over year increase). This points to low demand, as buyers are either postponing or canceling their purchases. On the other hand, values have been dropping consistently.
- Asking values were down 2.51% month over month and 23.64% year over year in December after months of decreases.
- Auction values were down 2.45% month over month and 25.69% year over year in December, also following months of decreases.
U.S. Used Medium-Duty Trucks
- Like the used heavy-duty truck market, used medium-duty trucks experienced declines in inventory levels and values in December, pointing to an oversupply. Medium-duty truck inventory levels were down 4.84% month over month and up 50.52% year over year and are currently trending sideways.
- Asking values decreased 2.6% month over month, marking the third consecutive month of declines, and were down 16.85% year over year.
- Auction values fell 3.83% month over month, continuing a downward trend for the second month in a row, and were down 22.03% year over year.
U.S. Used Farm Equipment
- Continuing an upward trend for the second month in a row, used farm equipment inventory levels rose 1.1% month over month and 26.51% year over year in December. The largest inventory rise was observed in the combine category (up 3.73% month over month), but inventory levels of high-horsepower (300 HP or greater) tractors were also noteworthy, as they have been steadily growing for eight months in a row.
- Asking values decreased 1.06% month over month, increased 0.42% year over year and are trending sideways.
- Auction values dipped by 1.22% month over month, initiating a downward trend, and fell 9.35% year over year. December value trends indicate that supply is higher than demand, as the market faces a glut of inventory and falling prices.
U.S. Used Compact and Utility Tractors
- Sandhills observed an increase in inventory levels and a decrease in values within the used compact and utility tractor market. Inventory levels were up 1.88% month over month in December, continuing an upward trend for the eighth consecutive month, and were up 32.78% year over year.
- Asking values remained stable for the second month in a row. Asking values decreased 0.12% month over month and 3.02% year over year after several months of decreases.
- Auction values extended a months-long downward trend, posting decreases of 0.99% month over month and 6.2% year over year in December. Given the trends of excess inventory and dropping values, market conditions are unfavorable for sellers of used compact and utility tractors.
U.S. Used Heavy-Duty Construction Equipment
- Inventory levels were still above last year’s level (up 18.68% year over year) in December and are trending up, but levels dipped 0.83% lower month over month, reversing the previous trend of increases.
- Asking values fell for the second consecutive month, down 1.43% month over month in December, and fell 7.66% year over year. Within this market, crawler excavators exhibited the steepest month over month decline, down 1.93%.
- Auction values fell 1.8% month over month and 14.91% year over year after months of decreases, led by dozers with a 3.03% month-over-month drop. These changes suggest greater supply than demand for used heavy-duty construction equipment in the U.S.
U.S. Used Medium-Duty Construction Equipment
- Inventory levels rose in this market for the 12th consecutive month, up 0.81% month over month in December, led by skid steers with a 2.84% month-over-month increase. Inventory levels were up 80.99% year over year.
- Asking values declined 1.37% month over month after months of decreases and fell 6.6% year over year.
- Auction values declined for the 10th month in a row, down 2.55% month over month and 13.16% year over year in December.
U.S. Used Lifts
- Sandhills noted a mixed performance within the used lift equipment market in December, as inventory levels increased (up 5.47% month over month and 30.61% year over year), while values fell.
- Asking values decreased 5.72% month over month and 9.59% year over year and are trending down.
- Auction values dropped 5.59% month over month after months of decreases and were down 21.06% year over year. These changes suggest a mismatch between supply and demand, as the used lift market has too much inventory and falling prices.
