Sandhills Global Market Reports Track Declines Across Used Truck and Trailer, Construction Equipment, and Farm Machinery Marketplaces

LINCOLN, Neb., April 7, 2023 /PRNewswire/ -- Downward value trends continued in March across Sandhills Global marketplaces. Used truck and trailer values have been in almost non-stop decline for a year, while used construction equipment values remained in a cooling pattern that began in Q3 2022. The most significant change in March occurred in used farm equipment, where inventory is rising and auction values are declining, both historical precursors to declines in asking values.

"With values hitting record numbers across the board in 2022, market value corrections were bound to happen," says Sales Manager Mitch Helman. "On the retail side, now is a great time for sellers to be more aggressive with pricing strategies, especially for units that they'd like to move quickly. There's still time to move construction and farm equipment while the overall values remain elevated. Truck and semitrailer sellers should also stay aggressive with pricing as values continue their downward trends."

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. 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 March 2022 to March 2023 with an eye to inventory, asking value, and auction value trends.

U.S. Used Heavy-Duty Trucks

• Used heavy-duty truck inventory increased 36.03% YOY, and inventory levels accelerated month to month, jumping 5.4% from February to March.
• Since heavy-duty truck values reached all-time highs in March 2022, asking and auction values have been in nearly continual decline. Asking values dropped 16.12% YOY and auction values are 28.12% lower than last year.
• The Sandhills EVI shows M/M value declines also occurred, with asking values decreasing 2.12% and auction values down 3.52%.

U.S. Used Semitrailers

• Used semitrailer inventory levels were up 3.9% M/M and 50.08% YOY in March.
• Inventory increases and resulting decreases in asking and auction values were driven by dry van and reefer semitrailers.
• Asking values for semitrailers have been in decline since spring of 2022. In March 2023, asking values decreased 3.27% M/M and 18.6% YOY.
• Auction values have trended down in recent months for used semitrailers, and March auction values were down 7.2% M/M and 31.86% YOY.

U.S. Used Medium-Duty Trucks

• Used medium-duty truck inventory increased 6.01% M/M and 15.21% YOY in March. Inventory levels are currently trending sideways, while asking and auction values have cooled.
• Asking values decreased 0.19% M/M and 4.96% YOY.
• The Sandhills EVI shows auction values have decreased in consecutive months. Auction values were down 0.84% M/M and 11.9% YOY.

U.S. Used Farm Equipment

• Used farm equipment inventory levels have increased in consecutive months and showed a 1.38% M/M gain in March. Inventory was also up 19.62% YOY.
• Late-model combine values are driving value trend decreases in farm equipment.
• The Sandhills EVI shows asking values declined 0.63% M/M, continuing a sideways trend, and increased 10.11% YOY.
• Auction values have also been trending sideways in recent months. Auction values dropped 2.14% M/M but were up 6.41% YOY in March.

U.S. Used Compact and Utility Tractors

• Although used compact and utility tractor inventories decreased slightly in March, they remain on an upward trend. Inventory levels decreased 2.17% M/M but were still up YOY with a 77.45% increase.
• Asking and auction values for less-than-100-horsepower tractors appear to have found their peak.
• In March, auction values decreased 1.76% M/M and were down 2% YOY. Declines in auction values tend to foreshadow asking value decreases.
• Asking values remained elevated YOY in March, up 3.95%, but were down 0.66% M/M, exhibiting a sideways trend.

U.S. Used Heavy-Duty Construction Equipment

• Used heavy-duty construction equipment inventory levels have seen back-to-back months of increases. Inventory levels increased 2.06% M/M in March and were still down YOY with a 3.6% decline.
• Asking and auction values decreased into negative YOY territory in March, led by crawler excavators.
• Asking values dropped 1.26% M/M and 2.42% YOY. Auction values are also trending down, decreasing 2.64% M/M and 5.58% YOY in March.

U.S. Used Medium-Duty Construction Equipment

• Within the used medium-duty construction equipment market, inventory levels for mini excavators and track skid steers continue to increase faster than loader backhoe inventories.
• Inventory for all medium-duty construction equipment increased 3.99% M/M and 28.56% YOY.
• Asking values were mostly flat in March, decreasing 0.46% M/M and increasing 0.57% YOY.
• Auction values for all equipment in this category dropped in March. As a whole, auction values decreased 1.61% M/M and 5.49% YOY.

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.

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