Le Lézard
Classified in: Transportation, Science and technology
Subject: SVY

Inventory Increases Accelerating Across Truck, Trailer, Farm Machinery, and Construction Equipment Marketplaces

LINCOLN, Neb., June 6, 2023 /PRNewswire/ -- Sandhills Global previously reported inventory increases occurring in April across Sandhills' heavy-duty truck, semitrailer, agricultural equipment, and heavy construction machinery marketplaces. Those trends accelerated in May. Truck and trailer inventory levels, for example, increased by double digits in May while inventory levels in several construction and farm equipment categories increased between 4% and 9%. When rising inventory level trends occur, auction value decreases usually follow. In fact, Sandhills has observed auction value decreases in several categories ranging from 2% to 9% month over month from April to May.

"Sandhills' market reports are showing clear trends that sellers would be wise to track," says Sales Manager Mitch Helman. "Truck, trailer, and construction equipment sellers, in particular, should pay close attention to the market as inventory levels are up and values are heading lower."

The key metric used in all of Sandhills' market reports is the Sandhills Equipment Value Index (EVI). Buyers and sellers can use the information in the Sandhills EVI to monitor equipment markets and maximize returns on acquisition, liquidation, and related business decisions. The Sandhills EVI data include equipment available in auction and retail markets as well as model year equipment actively in use.

Additional Market Report Takeaways
Sandhills market reports highlight the most significant changes in Sandhills' used heavy-duty truck, semitrailer, farm machinery, and construction equipment markets. Key points from the current reports are listed below. Full reports are available upon request.

?Inventory levels moved up in May after seasonal declines in April. Inventories increased 3.47% M/M and 71.64% YOY and are currently trending up. The 40- to 99-horsepower tractor category showed the greatest M/M inventory rise. 
?Asking and auction values peaked in 2022 and have shown signs of easing since then. Auction values are lower than they were a year ago, with asking values likely to follow. Asking values increased 0.22% M/M and are currently trending down.

?Inventory levels have been trending upward since the start of 2023 but totals piled up quicker in May, increasing 6.62% M/M and 38.91% YOY. Track and wheel skid steer inventories are increasing faster than other used medium-duty construction equipment categories. Inventory level changes are putting pressure on auction and asking values, especially in the skid steer category. Sandhills looks for these trends to continue.
?Both asking and auction values have decreased over the past few months.

?Inventory levels continue to climb and trend upward following several months of increases and double-digit YOY growth. Inventories increased 3.58% M/M and 29.81% YOY in May. Tractors over 300 HP showed a nearly 10% M/M increase.
?Asking values have held steady for a few months while auction values have decreased. Asking values remained nearly flat M/M in May, decreasing 0.04%, and are currently trending sideways, but they were up 9.03% YOY. Auction values decreased 3.78% M/M

?Inventory levels increased by double digits in May while values continue to fall. The day cab category led the way with the steepest value declines and the highest inventory level increase. Inventories rose 11.48% M/M following consecutive months of increases and were 33.24% higher year over year.
?Asking and auction values have decreased for a few months in a row. Asking values were down 2.69% M/M and 22.54% YOY in May, while auction values decreased 4.62% M/M and 27.67% YOY. Sandhills expec

?Inventory levels have been holding steady since last year but recently started to increase. Dozers, excavators, and wheel loaders all posted their largest inventory levels of 2023 in May. Inventories increased 2.87% M/M, rose 2.83% YOY, and are currently trending up.
?Asking and auction values continue to ease as all heavy-duty construction equipment values are lower than last year. Asking values increased 0.5% M/M, decreased 4.04% YOY, and are currently trending down. Auction values decrease

?Inventory levels have increased for several consecutive months and were up 14.63% M/M and 41.49% YOY in May. The dry van trailer category showed the largest increases. Both the dry van and reefer semitrailer categories are following the inventory trends seen in used heavy-duty trucks. Sandhills expects inventory trends to continue rising.
?Like heavy-duty trucks, values for used semitrailers have experienced months of decreases. Asking values declined 4.58% M/M and 25.59% YOY in May, while au

?Inventory levels have been increasing since the start of 2023. Inventories increased 9.39% M/M and 20.25% YOY in May.
?Auction and asking values decreased by 2% to 3% each month since January. In May, asking values increased 0.61% M/M, decreased 9.89% YOY, and are currently trending down. Following consecutive months of decreases, auction values were down 1.99% M/M and 15.46% YOY. Sandhills expects medium-duty truck values to remain lower than they were in 2022

U.S. Used Heavy-Duty Trucks

U.S. Used Semitrailers

U.S. Used Medium-Duty Trucks

U.S. Used Heavy-Duty Construction Equipment

U.S. Used Medium-Duty Construction Equipment

U.S. Used Farm Equipment

U.S. Used Compact and Utility Tractors

Obtain the Full Reports
For more information, or to receive detailed analysis from Sandhills Global, contact us at marketreports@sandhills.com.

About Sandhills Global
Sandhills Global is an information processing company headquartered in Lincoln, Nebraska. Our products and services gather, process, and distribute information in the form of trade publications, websites, and online services that connect buyers and sellers across the construction, agriculture, forestry, oil and gas, heavy equipment, commercial trucking, and aviation industries. Our integrated, industry-specific approach to hosted technologies and services offers solutions that help businesses large and small operate efficiently and grow securely, cost-effectively, and successfully. Sandhills Global?we are the cloud.

About the Sandhills Equipment Value Index
The Sandhills Equipment Value Index (EVI) is a principal gauge of the estimated market values of used assets?both currently and over time?across the construction, agricultural, and commercial trucking industries represented by Sandhills Global marketplaces, including AuctionTime.com, TractorHouse.com, MachineryTrader.com, TruckPaper.com, and other industry-specific equipment platforms. Powered by FleetEvaluator, Sandhills' proprietary asset valuation tool, Sandhills EVI provides useful insights into the ever-changing supply-and-demand conditions for each industry.

Contact Sandhills

SOURCE Sandhills Global

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