Key Takeaways:
- Agricultural Equipment: Auction prices for agricultural equipment increased in most categories in November, led by combine harvesters. Compact and utility tractors saw a decline across inventory levels, asking values, and auction prices.
- Construction Equipment: Inventory levels of heavy-duty construction equipment showed a slight month-over-month (M/M) decrease but remain higher year-over-year (YOY). Values are trending downward across categories.
- Commercial Trucks: Heavy-duty truck inventory trends diverged, with day cab inventory increasing and sleeper truck inventory declining. Asking and auction values continue to trend downward.
- Semitrailers: Semitrailer inventory decreased slightly M/M but remains higher YOY. Asking and auction values are trending down, continuing a long-term decline.
- Market Insights: The Sandhills Equipment Value Index (EVI) shows trends in asking and auction values, providing insights for buyers and sellers to optimize decisions.
Sandhills Global Agricultural Equipment Trends
Combine Harvesters
- Inventory: Up 0.99% M/M and 0.91% YOY but trending down seasonally.
- Asking Values: Increased 1.66% M/M, decreased 1.45% YOY, and are steady.
- Auction Values: Up 5.52% M/M, down 7.53% YOY, and trending steady.
Compact and Utility Tractors
- Inventory: Down 0.76% M/M and 23.75% YOY, with less-than-40-hp tractors seeing the steepest drop (-28.69% YOY).
- Asking Values: Decreased 0.83% M/M and 5.44% YOY, reflecting an 11-month downward trend.
- Auction Values: Down 0.87% M/M and 6.92% YOY.
Construction Equipment Insights
Heavy-Duty Equipment
- Inventory: Decreased 1.08% M/M but remains 16.78% higher YOY.
- Asking Values: Declined 1.42% M/M and 6.48% YOY, led by crawler excavators (-7.63% YOY).
- Auction Values: Flat M/M, down 9.38% YOY, and trending down.
Medium-Duty Equipment
- Inventory: Declined 1.14% M/M but rose 19.2% YOY, with wheel skid steers showing the largest YOY inventory increase (+29.17%).
- Asking Values: Dropped 1.83% M/M and 5.99% YOY.
- Auction Values: Down 0.88% M/M and 7.7% YOY.
Commercial Truck and Semitrailer Trends
Heavy-Duty Trucks
- Inventory: Down 2.28% M/M and 11.19% YOY, with sleeper trucks showing significant declines (-33.67% YOY).
- Asking Values: Increased slightly by 0.83% M/M but are 13.25% lower YOY.
- Auction Values: Up 0.81% M/M but fell 17.84% YOY.
Semitrailers
- Inventory: Down 1.33% M/M but up 6.73% YOY.
- Asking Values: Dropped 1.39% M/M and 18.58% YOY.
- Auction Values: Increased 0.57% M/M but fell 16.53% YOY.
Medium-Duty Trucks
- Inventory: Up 0.22% M/M and 8.33% YOY, with reefer box trucks leading YOY inventory growth (+130.2%).
- Asking Values: Down 1.08% M/M and 12.62% YOY.
- Auction Values: Declined 2.56% M/M and 23.3% YOY.
Market Observations by Sandhills Global
- EVI Spread: The Sandhills Equipment Value Index spread for several categories remains above historical averages, offering insights into market trends for buyers and sellers.
- Regional Variability: While inventory levels fluctuate, values reflect broader market conditions, with continued adjustments post-COVID.
Read the complete report here.
