Sandhills Market Reports Show Used Inventory Levels Down Across All Industries

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Feb 07, 2025, 12:26 ET

LINCOLN, Neb., Feb. 7, 2025 /PRNewswire/ -- The newest Sandhills Global market reports show decreases in inventory levels of U.S. used equipment, trucks, and trailers across Sandhills platforms, which include TractorHouse, Machinery Trader, and Truck Paper. Inventory trends are mixed, however, with some markets—among them tractors, harvesters, medium-duty construction equipment, and lifts—holding steady.

The EVI spread, which measures the percentage difference between asking and auction values, fell to 38%, slightly lower than the peak values observed in 2015. The EVI spread was 40% in December 2024.

The EVI spread for used combines was 48% in January, up from 47% in December and close to peak values observed in 2015.

The EVI spread in this market fell two points from December to 43% in January, slightly under the peak values seen in 2015

The EVI spread in this market dropped 10 points from December to 51% in January, significantly lower than the peak values observed in 2015.

Inventory levels in this market have been trending down for three months. This continued in January, with inventory down 3.9% M/M and 22.87% YOY. The used 40- to 99-hp tractor category showed the largest M/M inventory change, down 4.44%, while the used less-than-40-hp tractor category experienced a 26.31% YOY inventory decrease, the sharpest decrease among all categories.

Auction values were up 5.77% M/M but down 7.39% YOY, maintaining a downward trend. Used wheel loaders were influential here, too, with the greatest M/M auction value increase among all categories, up 7.48%, and the largest YOY decrease, down 8.33%.

Auction values are also trending down, with a 2.02% M/M increase and a 7.13% YOY decrease in January. Used wheel skid steer auction values increased more than other categories M/M, up 3.09%, while used track skid steers decreased the most YOY, by 7.96%.

Despite a 9.09% M/M increase, auction values in this market are also on a downward trend, falling 8.14% YOY in January. The used telescopic boom lift category had the largest M/M auction value increase at 12.14%, while the used cushion tire forklift category had the largest YOY auction value decrease at 13.04%.

Auction values were up 2.04% M/M in January but down 7.02% YOY. Used day cab truck auction values led the way compared to other categories, increasing 2.27% M/M and decreasing 9.57% YOY.

Auction values rose 6.1% M/M, fell 8.57% YOY, and are now on a steady trend. Used dry van trailer category auction values increased 10.3% M/M, more than other categories, while used reefer trailers led other categories in YOY declines, down 18.63%.

Auction values followed a similar pattern, decreasing by 0.79% M/M and 6.56% YOY. Leading other categories in auction value changes were used cab and chassis trucks, down 2.75% M/M, and used dry cargo delivery box trucks, down 13.97% YOY.

Asking and auction values are trending down for medium- and heavy-duty construction equipment markets, and in the farm equipment market, used compact and utility tractor asking prices have been falling for 11 months. The transportation sector is showing similar value trends, with used sleeper truck asking prices trending down for 27 months and used semitrailer prices trending down for almost two years.

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.

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.

U.S. Used Tractors 100 Horsepower and Greater

Inventory levels in this market decreased 1.99% month over month in January but increased 10.84% compared to year-ago levels. Overall, inventory trends are holding steady. The categories driving these changes were used 100- to 174-hp tractors, down 3.34% M/M, and used high-horsepower (300 hp or greater) tractors, up 20.49% year over year.
Asking values ticked up slightly M/M, by 0.23%, but fell 5.33% YOY, led by used high-hp tractor prices, which fell 5.83% YOY.
Auction values were similarly mixed, up 0.82% M/M but down 8.51% YOY. Used high-hp tractors led here, too, compared to other categories, up 1.5% M/M and down 9.22% YOY.
The EVI spread, which measures the percentage difference between asking and auction values, fell to 38%, slightly lower than the peak values observed in 2015. The EVI spread was 40% in December 2024.

U.S. Used Combines

U.S. used combine harvester inventory levels increased 1.13% M/M in January, decreased 5.49% YOY, and are continuing a steady trend.
Asking values are also on a steady trend, up 1.33% M/M and down 0.31% YOY.
Auction values, by contrast, are trending upward, posting a 1.47% M/M increase and a 1.67% YOY decrease in January.
The EVI spread for used combines was 48% in January, up from 47% in December and close to peak values observed in 2015.

U.S. Used Sprayers

Inventory levels of used sprayers fell 4.04% M/M in January but increased 10.8% YOY.
Asking values were down 2.68% M/M and 5.86% YOY and are continuing a downward trend.
Auction values also decreased, down 0.78% M/M and 8.52% YOY, and are maintaining a downward trend.
The EVI spread in this market fell two points from December to 43% in January, slightly under the peak values seen in 2015.

U.S. Used Planters

U.S. used planting equipment inventory is trending downward. Inventory levels decreased 5.03% M/M and 5.64% YOY in January.
Asking values were up 4.51% M/M but down 4.95% YOY and are trending down.
Following a similar pattern, auction values were up 6.99% M/M but down 3.22% YOY in January.
The EVI spread in this market dropped 10 points from December to 51% in January, significantly lower than the peak values observed in 2015.

U.S. Used Compact and Utility Tractors

Inventory levels in this market have been trending down for three months. This continued in January, with inventory down 3.9% M/M and 22.87% YOY. The used 40- to 99-hp tractor category showed the largest M/M inventory change, down 4.44%, while the used less-than-40-hp tractor category experienced a 26.31% YOY inventory decrease, the sharpest decrease among all categories.
Asking and auction values have both been trending down for 11 months. Asking values lifted slightly M/M, by 1.19%, but decreased by 3.61% YOY. The used 40- to 99-hp tractor category had the largest M/M increase at 1.26% and the largest YOY decrease at 3.74% compared to other categories.
Auction values were up 1.29% M/M but down 4.35% YOY. Used 40- to 99-hp tractor auction values increased by 1.81% M/M, more than other categories. The used less-than-40-hp category posted the greatest YOY auction value decrease, down 5.41%.

U.S. Used Heavy-Duty Construction Equipment

Sandhills' U.S. used heavy-duty construction equipment market includes crawler excavators, dozers, and wheel loaders. Inventory in this market decreased 2.88% M/M and 11.57% YOY in January and is trending down. Used wheel loader inventory fell by 3.38% M/M and increased by 24.74% YOY, driving inventory changes in the overall market.
Asking values were up 3.37% M/M in January, down 6.35% YOY, and are trending down. The used crawler dozer category pushed M/M asking value increases more than other categories, posting a 3.81% increase. Used wheel loaders led the way in YOY decreases, down 7.55%.
Auction values were up 5.77% M/M but down 7.39% YOY, maintaining a downward trend. Used wheel loaders were influential here, too, with the greatest M/M auction value increase among all categories, up 7.48%, and the largest YOY decrease, down 8.33%.

U.S. Used Medium-Duty Construction Equipment

Inventory levels in this market, which includes U.S. used skid steers, backhoes, and mini excavators, decreased 2.55% M/M in January, increased 13% YOY, and is maintaining a steady trend. The used loader backhoe category experienced the largest M/M inventory decrease, down 3.29%. Used track skid steers had the highest YOY inventory increase, up 16.52%.
Asking values rose 1.44% M/M but fell 6.09% YOY and are trending down. Used wheel skid steer asking values increased more than other categories M/M, up 1.91%, while used track skid steer asking values decreased the most YOY, down 7.57%.
Auction values are also trending down, with a 2.02% M/M increase and a 7.13% YOY decrease in January. Used wheel skid steer auction values increased more than other categories M/M, up 3.09%, while used track skid steers decreased the most YOY, by 7.96%.

U.S. Used Lifts

Inventory levels in the U.S. used lift market are maintaining a sideways trend. Inventory ticked down by 0.44% M/M in January but was 17.41% higher than year-ago levels. Used rough terrain scissor lift inventory increased more than other lift categories M/M, by 4.85%, while used telehandlers increased most dramatically YOY, up 32.32%.
Asking values continued an 11-month-long downward trend in January, up 5.76% M/M but down 9.13% YOY. The used cushion tire forklift category led in M/M asking value increases, up 8.57%, while the used telehandler category dropped the most YOY, down 12.26%.
Despite a 9.09% M/M increase, auction values in this market are also on a downward trend, falling 8.14% YOY in January. The used telescopic boom lift category had the largest M/M auction value increase at 12.14%, while the used cushion tire forklift category had the largest YOY auction value decrease at 13.04%.

U.S. Heavy-Duty Trucks

Inventory levels of U.S. used heavy-duty trucks continued to decline in January, down 10.23% M/M and 19.62% YOY. The used sleeper truck category drove the overall inventory decline, posting decreases of 13.32% M/M and 38.69% YOY.
Asking values showed a marginal M/M increase of 0.24% but dropped 7.85% YOY and are trending down. The greatest changes among categories occurred with used day cab trucks, with asking values up 0.39% M/M and down 9.01% YOY. Asking values for used sleeper trucks have been trending down for 27 months.
Auction values were up 2.04% M/M in January but down 7.02% YOY. Used day cab truck auction values led the way compared to other categories, increasing 2.27% M/M and decreasing 9.57% YOY.

U.S. Used Semitrailers

U.S. used semitrailer inventory levels have been trending down for months. This trend continued in January with inventory decreases of 11.11% M/M and 14.49% YOY. The used dry van trailer category exhibited the largest monthly inventory decline, down 16.73% M/M, while used reefer trailers showed the steepest YOY decline, down 27.94%.
Asking values continued a 23-month-long downward trend in January, posting a 2.19% M/M increase but a 12.17% YOY decrease. Used dry van trailers led other categories in M/M asking value increases, up 4.88%. The used reefer trailer category posted the largest YOY decrease, down 16.34%.
Auction values rose 6.1% M/M, fell 8.57% YOY, and are now on a steady trend. Used dry van trailer category auction values increased 10.3% M/M, more than other categories, while used reefer trailers led other categories in YOY declines, down 18.63%.

U.S. Used Medium-Duty Trucks

Sandhills' U.S. used medium-duty truck market includes box trucks, flatbeds, and cab and chassis trucks. Inventory in this market was down 1.39% M/M in January but 18.31% higher than year-ago levels. The categories in which the greatest inventory changes occurred were used stake trucks, down 6.42% M/M, and used reefer box trucks, up by a substantial 99.2% YOY.
Asking and auction values in this market have been trending down for five months. In January, asking values decreased 0.22% M/M and 5.09% YOY. Used reefer box truck M/M asking values declined more than other categories, decreasing by 2.72%. The used dry cargo delivery box truck category experienced an 8.67% YOY asking value decrease, the largest change among all categories.
Auction values followed a similar pattern, decreasing by 0.79% M/M and 6.56% YOY. Leading other categories in auction value changes were used cab and chassis trucks, down 2.75% M/M, and used dry cargo delivery box trucks, down 13.97% YOY.

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Sandhills Global is an information processing company headquartered in Lincoln, Nebraska. Our products and services gather, process, and distribute information through 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 Value Insight Portal, 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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