Market Volatility Returns in October as Auction Values for Trucks and Trailers Resume Downward Trend

“Economic forces, such as freight market rates and demand, along with challenging fuel prices and general market uncertainty, are all playing significant roles”

The stabilizing patterns seen in August and September, where inventory levels decreased and auction values remained steady for used heavy-duty truck and semi-trailers in Sandhills Global marketplaces, appear to be short-lived shifts. According to the newest Sandhills market reports, asking and auction values resumed the downward trends that initially began in Q2 2022.

“Volatility remains apparent in the truck and trailer markets with inventory fluctuations and values trending downward,” says Truck Paper Sales Manager Scott Lubischer. “Economic forces, such as freight market rates and demand, along with challenging fuel prices and general market uncertainty, are all playing significant roles in the value of trucks and trailers today.”

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.

Takeaways

Sandhills Market Reports highlight the most significant changes in Sandhills’ used truck and trailer, construction equipment, and farm machinery markets. Each report includes detailed analysis and charts that help readers visualize the data. In this month’s reports, Sandhills dives into the current trends across all the markets it monitors, including dropping value trends in medium-duty trucks, heavy-duty construction equipment, and medium-duty construction equipment.

U.S. Used Heavy-Duty Trucks

• The Sandhills EVI shows used heavy-duty truck inventory, which includes sleeper and day cab trucks, increased in October, up 2.6% month-over-month, reversing course after back-to-back months of inventory decreases. Inventory levels were up 50.1% year-over-year from October 2021.
• Heavy-duty truck asking values declined for the fifth consecutive month with a 1.8% month-to-month drop. Asking values were up 17.4% YOY.
• Auction values decreased 2.3% from September to October, following a 0.7% decline from August to September. Compared to October 2021, auction values were up 3.1% YOY.

U.S. Used Semi-Trailers

• Used semi-trailer inventory declined for the fourth consecutive month in October, down 1.9% M/M, and has been trending sideways in recent months. Semi-trailer inventory levels were up 51.7% YOY.
• Similar to heavy-duty truck trends, asking values for semi-trailers dropped for the fifth consecutive month, down 1.5% M/M, but were up 20.5% YOY.
• Although auction values were still up 5.4% YOY, the semi-trailer category displayed consecutive months of decreasing auction values.

U.S. Used Medium-Duty Trucks

• The Sandhills EVI shows that used medium-duty truck inventory levels decreased 3.1% M/M, the third consecutive month of inventory declines. This category includes box flatbed, and cab and chassis trucks. It’s important to note that inventory levels were still well above October 2021, up 66.3% YOY.
• Medium-duty truck asking values held steady in October and were up 12.6% YOY.
• For the first time in two years, medium-duty truck YOY auction values decreased in October, down 2.9%.

Category: Equipment, Featured, General Update, Management, News, Transit News, Vehicles