Market Reports: July 2022

Recent?Sandhills Global?market reports identified trends in used medium-duty construction equipment in Sandhills marketplaces, including consecutive months of inventory increases, that signaled potential value changes. In July, medium-duty construction equipment trends continued to swing; inventory growth accelerated and auction values decreased for the second month in a row. Because these trends are precursors of declining asking values, buyers and sellers of skid steers, loader backhoes, mini-excavators, and other medium-duty construction equipment need to assess current strategies in order to mitigate risk.?

The latest market data, included in the newest Sandhills market reports, details the continued tumble of truck and trailer asking and auction values. And although inventory levels have begun to settle in heavy-duty trucks and semi-trailers, values are likely to continue decreasing in the near future.

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. Regional EVI data is available for the United States (and key geographic regions within) and Canada, allowing Sandhills to reflect machine values by location.

Chart Takeaways

Sandhills Market Reports highlight the most significant changes in Sandhills’ used heavy-duty truck, construction equipment, and farm machinery markets. Each report includes detailed analysis and charts that help readers visualize the data. The latest reports detail the ways in which inventory levels are impacting all three markets, including key distinctions in medium-duty and heavy-duty equipment categories.

U.S. Used Medium-Duty Construction Market

• July marked the fourth consecutive month of inventory increases in medium-duty construction equipment. Used inventory levels increased 7.8% month-to-month, following a 7.4% M/M increase from May to June.
• Auction EVI decreased 1.5% M/M and increased 8.5% YOY in July.
• Asking EVI remained flat with an increase of 0.3% M/M. On a yearly basis, asking EVI rose 13% YOY.

U.S. Used Heavy-Duty Construction Market

• In June and July, heavy-duty construction equipment exhibited back-to-back months of inventory gains. Inventory increased 3.8% M/M and decreased 40% YOY in July.
• Auction and asking values continue to remain steady. Auction EVI decreased 0.3% M/M and increased 7% YOY in July. Asking EVI decreased 0.7% M/M and increased 4% YOY.

U.S. Used Heavy-Duty Truck Market

• Although heavy-duty truck inventory levels increased for the fifth consecutive month in July, the 1.7% M/M increase was considerably lower than previous months’ increases.
• Auction EVI decreased 7.4% M/M, representing the fourth consecutive month of auction value decreases. Heavy-duty truck auction values were still up 22% from July 2021.
• Asking EVI decreased 4% M/M but was still up 42% YOY.
• The value decreases in June and July marked the first back-to-back months of decreasing asking values since Q2 2020.

U.S. Used Semi-Trailer Market

• The Sandhills EVI showed inventory levels held steady from June to July and increased 11% YOY.
• Auction EVI for used semi-trailers decreased 3.4% M/M. Similar to the market for heavy-duty trucks, July marked the fourth consecutive month in which auction values decreased. Auction EVI increased 23% YOY.
• With a 2.1% M/M decrease in Asking EVI, semi-trailer asking values decreased in back-to-back months. Asking EVI was still up 47% compared to July 2021.

U.S. Used Medium-Duty Truck Market

• After four consecutive months of inventory increases for medium-duty trucks, July data showed asking and auction values declining after their recent peak.
• Used medium-duty truck inventory increased just 1.2% M/M and was up 31% YOY in July.
• Auction EVI decreased 0.26% M/M and increased 15% YOY; asking EVI decreased 0.15% M/M and increased 27% YOY.

?

U.S. Used Farm Equipment Market

• Used farm equipment inventory increased 0.2% M/M in July, continuing a leveling-off pattern seen from May to June. When compared to July 2021, farm equipment inventory levels were down 24%.
• Asking EVI and Auction EVI remained steady for used farm equipment in July. Auction EVI decreased 2.3% M/M and increased 7.5% YOY; asking EVI decreased 1.4% M/M and 7.1% YOY.

Obtain the Full Report

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.

Contact Sandhills

www.sandhills.com/contact-us

402-479-2181