Inventory levels of used forklifts platforms continue to climb, posting a 29.07% year-over-year increase in October, according to Sandhills Global's latest Equipment Value Index (EVI). Inventory levels for used aerial lifts and telehandlers have been increasing for several months as well. As a result, asking prices and auction values are responding with downward trends.

“Prices for aerial lifts have been declining,” says Sales Manager Matt Sterup. “Sellers who have kept prices competitive are seeing success, while those not keeping up with the market are struggling to sell.”

Within the used farm machinery market, compact and utility tractor inventory remains low compared to year-ago levels, while high-horsepower tractor inventory levels, asking prices, and auction values all decreased in October both month over month and YOY.

In used truck markets, used heavy-duty truck inventory levels were down 11.6% YOY in October with asking and auction values trending sideways. Meanwhile, used medium-duty truck inventory levels, asking prices, and auction values were lower than the previous month and year.

U.S. Used Aerial Lifts

• Inventory levels of used U.S. aerial lifts have been trending upward for five consecutive months. This trend continued in October with inventory level increases of 1.15% M/M and 3.47% YOY. The used telescopic boom lift category had the highest M/M inventory increase at 2.63%, while the used rough-terrain scissor lift category had the largest YOY inventory increase at 12.26%.

• Asking values in this market decreased by 1.27% M/M and 5.78% YOY in October, continuing an 8-month-long downward trend. The used slab scissor lift category showed the largest M/M asking value decrease at 2.46%, while the used rough-terrain scissor lift category had the largest YOY decrease at 11.31%.

• Auction values have also been trending downward. Auction values dipped 0.61% M/M and 6.65% YOY in October. The used slab scissor lift category had the largest M/M auction value decrease at 4.92%, while the used telescopic boom lift category had the largest YOY decrease at 9.82%.

U.S. Used Forklifts

• Inventory levels in the U.S. used forklift market have been climbing for nine months in a row. Inventory levels were up in October as well, by 0.83% M/M and 29.07% YOY. The used pneumatic-tire forklift category constituted the leading growth category, with inventory levels rising 2.14% M/M and 32.99% YOY.

• Asking values decreased slightly M/M, by 0.55%, and by 1.53% YOY, and are trending downward. The used pneumatic-tire forklift category showed the largest M/M asking value decrease at 0.61%, while the used cushion-tire forklift category had the largest YOY decrease at 1.85%.

• Auction values were down 0.05% M/M and 7.82% YOY in October, continuing a 9-month-long downward trend. The used cushion-tire forklift category posted the largest auction value decreases at 5.54% M/M and 9.45% YOY.

U.S. Used Heavy-Duty Construction Equipment

• Inventory levels in this market, which includes used crawler excavators, dozers, and wheel loaders, were up 2.12% M/M and down 7.44% YOY. Inventory levels are currently trending sideways. The used crawler excavator category had the largest influence on October inventory levels, with inventory up 2.8% M/M and down 9.32% YOY.

• Asking values increased slightly M/M in October, by 0.91%, decreased by 1.21% YOY, and are trending sideways. The used crawler excavator category had the largest M/M asking value increase at 2.51%, while the used wheel loader category showed the largest YOY decrease at 4.37%.

• Auction values are also trending sideways, posting increases of 0.53% M/M and 2.59% YOY in October. Used wheel loaders led other categories in M/M auction value increases at 0.86%, while used crawler excavators led in YOY increases at 3.72%.

U.S. Used Tractors 100 Horsepower and Greater

• Inventory levels in this market fell 1.19% M/M and 11.47% YOY in October and are trending downward for the sixth month in a row. The used 175 HP to 299 HP tractor category decreased the most M/M, by 2.26%, while the used 100 HP to 174 HP tractor category decreased the most YOY, by 19.56%.

• Asking prices in this market have been trending down for nine months, decreasing 1.48% M/M and 5.72% YOY in October. The largest changes occurred in the used 300 HP and greater tractor category, with asking prices down 2.28% M/M and 6.28% YOY.

• Auction values have been trending down for six months, decreasing 1.62% M/M and 3.58% YOY in October. The used 300 HP and greater tractor category posted the largest auction value changes as well, down 2.42% M/M and 3.86% YOY.
• The EVI spread, which measures the percentage difference between asking and auction values, remained unchanged since September at 40%, close to the peak values observed in 2015.

The remainder of the Sandhills market reports can be found here.