Truck and Trailer Values Exhibit Negative Year-Over-Year Growth in January

The Sandhills EVI shows used heavy-duty truck inventory increased 30.49% YOY

Asking and auction values for used heavy-duty trucks and semitrailers in Sandhills Global marketplaces have been dropping from the all-time highs that began in Q2 2022. However, despite almost continual month-over-month value declines after Q2, year-over-year values hadn’t slipped into negative territory until recently. According to the newest Sandhills market reports, January 2023 asking and auction values for heavy-duty trucks, medium-duty trucks, and semitrailers were all lower than those of January 2022.

“As truck and semitrailer values shift downward, sellers should closely monitor value trends to keep prices competitive and stay ahead of market changes,” says Sales Manager Mitch Helman. “Sandhills’ market reports and valuation tools provide the insights sellers need to stay on top of current equipment values and make quicker and more educated price adjustments, ensuring trucks and trailers continue to move even as the market shifts.”

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. Effective with the January 2023 EVI, Sandhills introduced version enhancements and weighted adjustments. All historic EVI metrics were amended and recalculated back to 2005, and all calendar year 2023 EVI releases will include these enhancements; as a result, prior numbers will not be comparable to the new, more insightful values.

Takeaways
Sandhills market reports highlight the most significant changes in Sandhills’ used farm machinery, heavy-duty truck, and construction equipment markets. Each report includes detailed analysis and charts that help readers visualize the data. The newest reports examine year-over-year variance in detail, noting changes from January 2022 to January 2023 with an eye to inventory, asking value, and auction value trends.

U.S. Used Heavy-Duty Trucks

• The Sandhills EVI shows used heavy-duty truck inventory increased 30.49% YOY. And although inventory levels decreased 2.86% month over month, they have trended up in recent months.
• Asking values declined 1.52% M/M in January, marking the ninth consecutive month of declines. Asking values were down 2.13% YOY.
• Auction values dropped 1.21% M/M and 16.67% YOY in January, continuing a downward trend that began in April 2022.

U.S. Used Semitrailers

• The M/M percentage increase in used semitrailer inventory levels nearly reached double digits in January, gaining 9.53%. YOY, inventory levels were up 45.95%.
• Dry van and reefer semitrailers were the main drivers of inventory increases and declining values in January. Asking values for all used semitrailers decreased 1.76% M/M and 8.45% YOY, continuing recent downward trends.
• Auction values increased 4.86% M/M, yet were still down 21.44% YOY in January. Auction values in this category have been trending down since Q2 2022.

U.S. Used Medium-Duty Trucks

• Used medium-duty truck inventory levels held steady in January, increasing 1.41% M/M. Inventory levels were up 22.91% YOY.
• YOY values have been trending lower. Asking values decreased 2.09% M/M and showed a modest YOY decline of 0.23%. Auction values decreased 1.27% M/M and 6.65% YOY.

Category: Cab, Trailer & Body, Equipment, Featured, General Update, News, Products, Shop Stuff, Vehicles