Despite Inventory and Price Drops, Dealers Cautiously Optimistic About Used Equipment & Truck Markets

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Feb 04, 2026, 17:22 ET

LINCOLN, Neb., Feb. 4, 2026 /PRNewswire/ -- Dealers are expressing a degree of optimism in the used construction equipment, farm machinery, and commercial truck and trailer markets, despite a mix of trends, many of which pointed downward in January. Relatively strong January sales in some markets, along with a sense that several markets have bottomed out and are beginning to tick up, have sparked a cautiously positive outlook for a gradual recovery throughout 2026.

January marked the seventh consecutive month of a downward inventory trend for the U.S. used heavy-duty construction equipment market. Inventory levels fell 2.6% month over month and 13.05% year over year. The used wheel loader category had the steepest inventory declines, down 3.74% M/M and 14.06% YOY.

Inventory levels in this market fell 2.17% M/M and 12.82% YOY in January and are trending down. Used loader backhoes led other categories in inventory level decreases, down 6.3% M/M and 24.56% YOY.
Asking values increased by 2.55% M/M but slipped 0.76% YOY and continued an 11-month-long downward trend. The largest changes occurred in the used loader backhoe category, up 4.36% M/M, and the used track skid steer category, down 1.85% YOY. — Inventory levels in this market fell 2.17% M/M and 12.82% YOY in January and are trending down. Used loader backhoes led other categories in inventory level decreases, down 6.3% M/M and 24.56% YOY. Asking values increased by 2.55% M/M but slipped 0.76% YOY and continued an 11-month-long downward trend. The largest changes occurred in the used loader backhoe category, up 4.36% M/M, and the used track skid steer category, down 1.85% YOY.

Inventory levels in the U.S. aerial lift market increased by 0.99% M/M and 3.62% YOY in January and are trending up. The used slab scissor lift category led in M/M inventory increases, up 3.04%, while the used rough-terrain scissor lift category led in YOY gains, up 13.75%.
Asking values climbed 5.06% M/M but slipped 1.89% YOY and are trending sideways. Used rough-terrain scissor lifts led other categories in M/M asking value increases, up 6.81%. — Inventory levels in the U.S. aerial lift market increased by 0.99% M/M and 3.62% YOY in January and are trending up. The used slab scissor lift category led in M/M inventory increases, up 3.04%, while the used rough-terrain scissor lift category led in YOY gains, up 13.75%. Asking values climbed 5.06% M/M but slipped 1.89% YOY and are trending sideways. Used rough-terrain scissor lifts led other categories in M/M asking value increases, up 6.81%.

U.S. used forklift inventory levels remained nearly flat M/M in January, with a 0.21% decrease, but surged 30.89% YOY. Inventory levels in this market are currently trending sideways. The used cushion-tire forklift category drove inventory changes in this market, posting a 1.79% M/M decrease and a 31.77% YOY increase.

U.S. used telehandler inventory levels decreased by 2.66% M/M and increased by 4.42% YOY in January and are trending down.
Asking values were up 4.49% M/M and 1.07% YOY, shifting from a downward trend to a sideways trend in January. — U.S. used telehandler inventory levels decreased by 2.66% M/M and increased by 4.42% YOY in January and are trending down. Asking values were up 4.49% M/M and 1.07% YOY, shifting from a downward trend to a sideways trend in January.

Inventory levels for U.S. high‑horsepower tractors have been trending down for eight consecutive months. Inventory levels decreased by 1.12% M/M and 16.99% YOY in January. Used tractors 300 horsepower and greater saw the steepest inventory decline at 1.25% M/M, while the biggest annual drop occurred in used 100-to-174-HP tractors, down 24.82% YOY.

• Inventory levels of used combines in U.S. markets ticked up 0.92% M/M in January but remained significantly low YOY, down 11.43%, and are trending sideways.
• Asking values increased by 1.54% M/M, decreased by 3.82% YOY, and are trending sideways.
• Auction values increased by 1.92% M/M and 2.35% YOY and are trending up.
• The EVI spread for used combines decreased by one percentage point to 36% in January, still lower than the peak values observed in 2015. — • Inventory levels of used combines in U.S. markets ticked up 0.92% M/M in January but remained significantly low YOY, down 11.43%, and are trending sideways. • Asking values increased by 1.54% M/M, decreased by 3.82% YOY, and are trending sideways. • Auction values increased by 1.92% M/M and 2.35% YOY and are trending up. • The EVI spread for used combines decreased by one percentage point to 36% in January, still lower than the peak values observed in 2015.

• Inventory levels in this market fell 3.11% M/M and 15.3% YOY, maintaining a downward trend.
• Asking values posted a minimal increase of 0.57% M/M but slipped 3.62% YOY, moving to a sideways trend.
• Auction values edged down 0.16% M/M and 3.19% YOY and are also on a sideways trend.
• The EVI spread for used sprayers fell four percentage points to 39% in January, which is slightly lower than the peak values of 2015. — • Inventory levels in this market fell 3.11% M/M and 15.3% YOY, maintaining a downward trend. • Asking values posted a minimal increase of 0.57% M/M but slipped 3.62% YOY, moving to a sideways trend. • Auction values edged down 0.16% M/M and 3.19% YOY and are also on a sideways trend. • The EVI spread for used sprayers fell four percentage points to 39% in January, which is slightly lower than the peak values of 2015.

• Used planter inventory levels continued to decline in January, falling 5.34% M/M and 22.92% YOY, furthering a downward trend.
• Asking values increased by 7.43% M/M and 1.65% YOY in January and are trending up.
• Auction values rose 11.68% M/M and 8.05% YOY and are also trending up.
• The EVI spread in this market dropped two percentage points to 48% in January, which is lower than the peak values seen in 2015. — • Used planter inventory levels continued to decline in January, falling 5.34% M/M and 22.92% YOY, furthering a downward trend. • Asking values increased by 7.43% M/M and 1.65% YOY in January and are trending up. • Auction values rose 11.68% M/M and 8.05% YOY and are also trending up. • The EVI spread in this market dropped two percentage points to 48% in January, which is lower than the peak values seen in 2015.

• Inventory levels in this market dropped 3.1% M/M and 22.59% YOY in January and are trending down. The used 40-to-99-HP tractor category had the largest M/M decrease at 3.17%, while the used less-than-40-HP tractor category posted the largest YOY drop at 24.36%.
• Asking values showed modest gains in January, up 1.36% M/M and 1.05% YOY, and are trending up. The category leading these changes, used less-than-40-HP tractors, increased by 1.52% M/M and 1.24% YOY. — • Inventory levels in this market dropped 3.1% M/M and 22.59% YOY in January and are trending down. The used 40-to-99-HP tractor category had the largest M/M decrease at 3.17%, while the used less-than-40-HP tractor category posted the largest YOY drop at 24.36%. • Asking values showed modest gains in January, up 1.36% M/M and 1.05% YOY, and are trending up. The category leading these changes, used less-than-40-HP tractors, increased by 1.52% M/M and 1.24% YOY.

Inventory levels in the U.S. used heavy-duty truck market continued a downward trend in January, falling 3.9% M/M and 11.37% YOY. Used sleeper trucks recorded the steepest M/M inventory decline at 5.17%, while used day cab trucks drove the largest YOY drop at 13.14%.

Inventory levels in this market fell 5.84% M/M and 18.46% YOY, maintaining a downward trend. The largest inventory changes were observed in the used reefer trailer category, down 10.4% M/M, and the used dry van trailer category, down 26.23% YOY.

Inventory levels in this market inched up 0.94% M/M in January but fell 5.7% YOY and continued a 5-month-long downward trend.
Asking values were essentially flat in January, increasing by 0.01% M/M, but fell 6.61% YOY and are trending down.
Auction values were up 1.85% M/M and down 6.81% YOY. Like asking values, auction values have been trending down for five consecutive months. — Inventory levels in this market inched up 0.94% M/M in January but fell 5.7% YOY and continued a 5-month-long downward trend. Asking values were essentially flat in January, increasing by 0.01% M/M, but fell 6.61% YOY and are trending down. Auction values were up 1.85% M/M and down 6.81% YOY. Like asking values, auction values have been trending down for five consecutive months.

The newest Sandhills Global market reports provide details on inventory, asking price, and auction value trends affecting used equipment, trucks, and trailers across Sandhills' platforms. Downward inventory trends persisted in most markets, but several value trends improved in January. For example, in the used heavy-duty construction equipment, semi-trailer, and sprayer markets, asking and auction values shifted from downward to sideways trends. Value trend lines also improved for used high-horsepower tractors, compact and utility tractors, and planters.

The key metric 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 and model-year equipment actively in use. EVI spread measures the percentage difference between asking and auction values.

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

U.S. Used Heavy-Duty Construction Equipment

January marked the seventh consecutive month of a downward inventory trend for the U.S. used heavy-duty construction equipment market. Inventory levels fell 2.6% month over month and 13.05% year over year. The used wheel loader category had the steepest inventory declines, down 3.74% M/M and 14.06% YOY.
Asking values were up 1.93% M/M but slipped 2.87% YOY and are trending sideways. The strongest M/M asking value gain came from the used crawler excavator category at 2.6%, while used wheel loaders had the largest YOY drop at 3.89%.
Auction values rose 2.91% M/M in January but decreased slightly YOY at 0.35%, also maintaining a sideways trend. These changes were led by used crawler excavators, up 4.93% M/M, and used crawler dozers, down 1.13% YOY.

U.S. Used Medium-Duty Construction Equipment

Inventory levels in this market fell 2.17% M/M and 12.82% YOY in January and are trending down. Used loader backhoes led other categories in inventory level decreases, down 6.3% M/M and 24.56% YOY.
Asking values increased by 2.55% M/M but slipped 0.76% YOY and continued an 11-month-long downward trend. The largest changes occurred in the used loader backhoe category, up 4.36% M/M, and the used track skid steer category, down 1.85% YOY.
Auction values edged up 3.36% M/M and 0.1% YOY in January, but the increases weren't substantial enough to change the trend line. Auction values have now been trending down for six consecutive months. The used loader backhoe category led the pack, delivering the biggest M/M auction value gain at 5.18% and the largest YOY rise at 1.56%.

U.S. Used Aerial Lifts

Inventory levels in the U.S. aerial lift market increased by 0.99% M/M and 3.62% YOY in January and are trending up. The used slab scissor lift category led in M/M inventory increases, up 3.04%, while the used rough-terrain scissor lift category led in YOY gains, up 13.75%.
Asking values climbed 5.06% M/M but slipped 1.89% YOY and are trending sideways. Used rough-terrain scissor lifts led other categories in M/M asking value increases, up 6.81%. The steepest YOY decline occurred in the used telescopic boom lift category, down 3.5%.
Auction values jumped 7.46% M/M but fell 3.69% YOY in January, continuing an 11-month-long downward trend. The sharpest category auction value changes occurred among used rough-terrain scissor lifts, up 8.48% M/M, and used telescopic boom lifts, down 5.78% YOY.

U.S. Used Forklifts

U.S. used forklift inventory levels remained nearly flat M/M in January, with a 0.21% decrease, but surged 30.89% YOY. Inventory levels in this market are currently trending sideways. The used cushion-tire forklift category drove inventory changes in this market, posting a 1.79% M/M decrease and a 31.77% YOY increase.
Asking values slipped 1.68% M/M and 3.25% YOY and are trending down. Again, the used cushion-tire forklift category led the changes, with asking values dropping 2.47% M/M and 3.51% YOY.
Auction values fell 2.25% M/M and 2.14% YOY but maintained a sideways trend. The most pronounced auction value changes occurred in the used cushion-tire forklift category, down 2.44% M/M, and the used pneumatic-tire forklift category, down 2.68% YOY.

U.S. Used Telehandlers

U.S. used telehandler inventory levels decreased by 2.66% M/M and increased by 4.42% YOY in January and are trending down.
Asking values were up 4.49% M/M and 1.07% YOY, shifting from a downward trend to a sideways trend in January.
Auction values rose 9.16% M/M and 0.73% YOY in January, also shifting to a sideways trend. This is noteworthy as used telehandler auction values had been trending down for eight consecutive months as of December.

U.S. Used Tractors 100 Horsepower and Greater

Inventory levels for U.S. high‑horsepower tractors have been trending down for eight consecutive months. Inventory levels decreased by 1.12% M/M and 16.99% YOY in January. Used tractors 300 horsepower and greater saw the steepest inventory decline at 1.25% M/M, while the biggest annual drop occurred in used 100-to-174-HP tractors, down 24.82% YOY.
Asking values increased by 2.06% M/M, decreased by 1.12% YOY, and are trending sideways. Used tractors 300 HP and greater posted both the largest M/M asking value increase, up 2.65%, and the largest annual decline, down 1.26% YOY.
Auction values were up 2.67% M/M and 1.89% YOY in January and are trending up. Used tractors 300 HP and greater drove monthly auction value increases with a 3.76% M/M rise, while the largest annual gain occurred in the used 175-to-299-HP tractor category, up 2.8%.
The EVI spread, which measures the percentage difference between asking and auction values, fell three percentage points to 32% in January, lower than the peak values observed in 2015.

U.S. Used Combines

Inventory levels of used combines in U.S. markets ticked up 0.92% M/M in January but remained significantly low YOY, down 11.43%, and are trending sideways.
Asking values increased by 1.54% M/M, decreased by 3.82% YOY, and are trending sideways.
Auction values increased by 1.92% M/M and 2.35% YOY and are trending up.
The EVI spread for used combines decreased by one percentage point to 36% in January, still lower than the peak values observed in 2015.

U.S. Used Sprayers

Inventory levels in this market fell 3.11% M/M and 15.3% YOY, maintaining a downward trend.
Asking values posted a minimal increase of 0.57% M/M but slipped 3.62% YOY, moving to a sideways trend.
Auction values edged down 0.16% M/M and 3.19% YOY and are also on a sideways trend.
The EVI spread for used sprayers fell four percentage points to 39% in January, which is slightly lower than the peak values of 2015.

U.S. Used Planters

Used planter inventory levels continued to decline in January, falling 5.34% M/M and 22.92% YOY, furthering a downward trend.
Asking values increased by 7.43% M/M and 1.65% YOY in January and are trending up.
Auction values rose 11.68% M/M and 8.05% YOY and are also trending up.
The EVI spread in this market dropped two percentage points to 48% in January, which is lower than the peak values seen in 2015.

U.S. Used Compact and Utility Tractors

Inventory levels in this market dropped 3.1% M/M and 22.59% YOY in January and are trending down. The used 40-to-99-HP tractor category had the largest M/M decrease at 3.17%, while the used less-than-40-HP tractor category posted the largest YOY drop at 24.36%.
Asking values showed modest gains in January, up 1.36% M/M and 1.05% YOY, and are trending up. The category leading these changes, used less-than-40-HP tractors, increased by 1.52% M/M and 1.24% YOY.
Auction values also showed modest gains, up 1.75% M/M and 1.54% YOY, shifting from a downward trend to a sideways trend in January. The used 40-to-99-HP tractor category drove these changes, with the top M/M rise at 2.03% and the top YOY rise at 1.77%.

U.S. Heavy-Duty Trucks

Inventory levels in the U.S. used heavy-duty truck market continued a downward trend in January, falling 3.9% M/M and 11.37% YOY. Used sleeper trucks recorded the steepest M/M inventory decline at 5.17%, while used day cab trucks drove the largest YOY drop at 13.14%.
Asking values also slipped further, down 1.87% M/M and 2.73% YOY, maintaining an overall downward trend. The biggest M/M asking value decrease occurred in the used sleeper truck category, down 2.45%, and the most pronounced YOY decline was observed in used day cab trucks, down 5.55%.
Auction values decreased by 0.98% M/M and 4.58% YOY in January and are trending down. Used sleeper trucks posted the largest M/M auction value decline at 1.82%, while used day cabs experienced the largest YOY decrease at 6.59%.

U.S. Used Semi-Trailers

Inventory levels in this market fell 5.84% M/M and 18.46% YOY, maintaining a downward trend. The largest inventory changes were observed in the used reefer trailer category, down 10.4% M/M, and the used dry van trailer category, down 26.23% YOY.
Asking values rose 3.51% M/M but slipped 1.65% YOY and are trending sideways. Used reefer trailers had the greatest impact on monthly asking prices in January, increasing by 4.62% M/M, while used dry van trailers led other categories in YOY decreases with a 3.58% drop.
Auction values are also trending sideways, posting a 5.15% M/M increase and a 4.54% YOY decrease in January. The largest auction value changes were seen among used reefer trailers, up 7.15% M/M, and used dry van trailers, down 16.51% YOY.

U.S. Used Medium-Duty Trucks

Inventory levels in this market inched up 0.94% M/M in January but fell 5.7% YOY and continued a 5-month-long downward trend.
Asking values were essentially flat in January, increasing by 0.01% M/M, but fell 6.61% YOY and are trending down.
Auction values were up 1.85% M/M and down 6.81% YOY. Like asking values, auction values have been trending down for five consecutive months.

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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 Value Insight Portal (VIP and VIP+) 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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