This executive summary provides an overview of the key findings from various market reports in March 2024 across the truck/trailer, construction, and agricultural equipment sectors in the United States and Canada as provided by Sandhills Publishing.
Truck/Trailer Market:
- S. Used Heavy-Duty Trucks: Inventory increased by 7.19% M/M and 14.38% YOY, with asking and auction values showing a downward trend.
- S. Used Semitrailers: Inventory rose by 5.07% M/M and 44.83% YOY, with both asking and auction values declining, indicating a growing surplus.
- S. Used Medium-Duty Trucks: Inventory levels continued to rise (13.88% M/M and 37.46% YOY), leading to pressure on values, which are trending down despite monthly increases.
Construction Equipment Market:
- S. Used Heavy-Duty Construction Equipment: Inventory levels increased by 2.43% M/M and 15.59% YOY, with both asking and auction values showing a sideways trend and marginal decreases.
- S. Used Medium-Duty Construction Equipment: Inventory levels also rose (1.33% M/M and 55.33% YOY), with asking values trending sideways and auction values showing slight increases.
Agricultural Equipment Market:
- S. Used Planters: Inventory levels remained elevated (up 41.66% YOY), with both asking and auction values decreasing.
- S. Used Combines: Modest M/M increase in inventory (1.72%) but a decline in auction values, suggesting a potential future decrease in asking values.
- S. Used Tractors (100HP+ and Compact/Utility): Inventory levels for both categories continued to rise, impacting values, which are trending sideways or downward.
Canadian Market Trends:
- Canada Construction Equipment: Inventory levels saw an increase YOY, with marginal decreases in asking values.
- Canada Agricultural Equipment: Trends mirrored those in the U.S., with elevated inventory levels impacting values.
Overall, the U.S. market is characterized by rising inventory levels across various equipment categories, which are putting downward pressure on both asking and auction values. Despite some monthly fluctuations, the overall trend suggests a market with growing supply and waning demand, particularly in heavy-duty trucks, semitrailers, and certain construction equipment categories. This trend may impact the pricing strategies and purchasing decisions of stakeholders in these industries.
If you need any help or further insight on the state of capex financing in these or other asset classes, contact First National Capital today.
Full Reports can be found by clicking the following links:
- Truck/Trailer – March 2024 Reporting
- Construction – March 2024 Reporting
- Ag Equipment – March 2024 Reporting
- Canada Construction – March 2024 Reporting
- Canada Ag Equipment – March 2024 Reporting
