“As truck and semitrailer values shift downward, sellers should closely monitor value trends to keep prices competitive and stay ahead of market changes,” says Sales Manager Mitch Helman. “Sandhills’ market reports and valuation tools provide the insights sellers need to stay on top of current equipment values and make quicker and more educated price adjustments, ensuring trucks and trailers continue to move even as the market shifts.”
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. Effective with the January 2023 EVI, Sandhills introduced version enhancements and weighted adjustments. All historic EVI metrics were amended and recalculated back to 2005, and all calendar year 2023 EVI releases will include these enhancements; as a result, prior numbers will not be comparable to the new, more insightful values.
Takeaways
Sandhills market reports highlight the most significant changes in Sandhills’ used farm machinery, heavy-duty truck, and construction equipment markets. Each report includes detailed analysis and charts that help readers visualize the data. The newest reports examine year-over-year variance in detail, noting changes from January 2022 to January 2023 with an eye to inventory, asking value, and auction value trends.
U.S. Used Heavy-Duty Trucks
- The Sandhills EVI shows used heavy-duty truck inventory increased 30.49% YOY. And although inventory levels decreased 2.86% month over month, they have trended up in recent months.
- Asking values declined 1.52% M/M in January, marking the ninth consecutive month of declines. Asking values were down 2.13% YOY.
- Auction values dropped 1.21% M/M and 16.67% YOY in January, continuing a downward trend that began in April 2022.
U.S. Used Semitrailers
- The M/M percentage increase in used semitrailer inventory levels nearly reached double digits in January, gaining 9.53%. YOY, inventory levels were up 45.95%.
- Dry van and reefer semitrailers were the main drivers of inventory increases and declining values in January. Asking values for all used semitrailers decreased 1.76% M/M and 8.45% YOY, continuing recent downward trends.
- Auction values increased 4.86% M/M, yet were still down 21.44% YOY in January. Auction values in this category have been trending down since Q2 2022.
U.S. Used Medium-Duty Trucks
- Used medium-duty truck inventory levels held steady in January, increasing 1.41% M/M. Inventory levels were up 22.91% YOY.
- YOY values have been trending lower. Asking values decreased 2.09% M/M and showed a modest YOY decline of 0.23%. Auction values decreased 1.27% M/M and 6.65% YOY.
U.S. Used Farm Equipment
- Used farm equipment inventory levels continued to rebound in January from two years of declines, increasing 6.43% M/M and 10.61% YOY.
- Asking and auction values remained elevated YOY in January despite the inventory gains, driven by late-model combines and high-horsepower tractors.
- Asking values decreased slightly (0.44%) M/M but were 9.82% higher than last year.
- Auction values held steady from December 2022 to January 2023 and were up 8.55% YOY.
U.S. Used Compact and Utility Tractors
- Inventory totals for used compact and utility tractors surpassed pre-pandemic levels in January, continuing to rebound from the lowest levels of 2021. Used inventory was up 5.79% M/M and 78% YOY.
- Asking values for compact and utility tractors remained elevated in January and are currently trending upward. Asking values increased 0.56% M/M and 7.21% YOY.
- Auction values increased 0.95% M/M but were down 1.08% YOY.
U.S. Used Heavy-Duty Construction Equipment
- Inventory levels in this category have remained steady since Q2 2022 but decreased 4.35% M/M and 16.53% YOY in January.
- Asking and auction values remained higher YOY in January, up 3.88% and 3.14%, respectively. Asking values remained steady M/M, while auction values showed a 1.06% M/M increase and are trending sideways.
U.S. Used Medium-Duty Construction Equipment
- Overall, used inventory levels were up 6.51% YOY in January but are currently trending sideways. However, within this market, mini excavators and track skid steers are displaying the greatest inventory growth.
- In recent months, values for used medium-duty construction equipment have been trending lower. Asking values were down 1.19% M/M but remain up 5.04% YOY in January.
- The Sandhills EVI shows auction values decreased 0.35% M/M and 1.45% YOY.
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For more information, or to receive detailed analysis from Sandhills Global, contact us at [email protected].
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.
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SOURCE Sandhills Global
