Inventory Levels Flatten in Heavy-Duty Truck and Farm Equipment Markets

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Mar 11, 2022, 10:07 ET

LINCOLN, Neb., March 11, 2022 /PRNewswire/ -- The newest Sandhills Global Market Report spotlights flattening inventory levels in Sandhills marketplaces, particularly in the heavy-duty truck and farm equipment markets. Heavy-duty truck inventories, for example, have been flat for four consecutive months, while agricultural equipment inventories have been leveling off since Q4 2021. Both segments had previously experienced steady inventory declines since Q2 2020.

Heavy-duty truck inventory was down 52.7% YOY in February, which was a 5.8-percentage-point improvement compared January inventory levels.

Unlike the heavy-duty truck and farm equipment markets, inventory levels in heavy-duty construction equipment continue to drop. In February, inventory levels were down 46.1% YOY. January construction equipment inventory levels, by comparison, were down 42.5% YOY.

From January to February, farm equipment inventory levels were flat, posting decreases of 37.4% YOY and 37.2% YOY, respectively.

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. For 2022, Sandhills has enhanced its EVI with new metrics. The data now includes model year equipment actively in use, which grows the used equipment population beyond that available in auction and retail markets. New EVI data, already available for the United States, is also now available for Canada to better reflect machine values by location. The enhanced version of Sandhills EVI requires Sandhills to restate the values starting in January 2022, so prior numbers will not be comparable to the new, more insightful values.

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. This report shows how recent flattening inventory levels compare to long-term trends, and illustrates year-over-year changes in asking and auction values for the construction equipment, farm equipment, and heavy-duty truck markets.

U.S. Used Heavy-Duty Trucks

Heavy-duty truck inventory was down 52.7% YOY in February, which was a 5.8-percentage-point improvement compared January inventory levels.
The Sandhills EVI shows heavy-duty trucks values continued an upward trend in February, posting a 58.5% YOY auction value increase and 50.1% YOY asking value increase.

U.S. Used Heavy-Duty Construction Equipment

Unlike the heavy-duty truck and farm equipment markets, inventory levels in heavy-duty construction equipment continue to drop. In February, inventory levels were down 46.1% YOY. January construction equipment inventory levels, by comparison, were down 42.5% YOY.
As inventory levels decline, used construction equipment auction values (up 10.9% YOY) and asking values (up 6% YOY) continue to trend upwards.

U.S. Used Farm Equipment

From January to February, farm equipment inventory levels were flat, posting decreases of 37.4% YOY and 37.2% YOY, respectively.
Farm equipment values continued to trend upward in February. The Sandhills EVI shows farm equipment auction values increased 9.7% YOY while asking values were up 5.5% YOY.

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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.

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SOURCE Sandhills Global