Uncertainty Clouds Used Truck & Farm Equipment Markets

New Sandhills Global market reports covering used equipment, trucks, and trailers on Sandhills’ U.S. platforms underscore market uncertainty but point to more affordable options for buyers.

Addressing the used agricultural equipment market, TractorHouse Manager Ryan Dolezal says, “Economic pressures and market volatility remain a top concern. However, while the current environment presents challenges, it also opens opportunities for buyers to obtain equipment at more favorable prices. We anticipate the market will contract and eventually stabilize to a state similar to what we observed between 2017 and 2019.”

Speaking to the used truck and trailer market, Truck Paper Manager Scott Lubischer says, “New truck sales have been stagnant, with pre-buy behavior moving from 2025 to 2026. OEMs recognize this, and they have been cutting back production. Given the uncertainty clouding the global economy, many buyers are stalling, but inventory levels are stable and deals are still being made.”

The key metric 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 and model-year equipment actively in use. EVI spread measures the percentage difference between asking and auction values.

Additional Market Report Takeaways

Sandhills market reports highlight the most significant changes in Sandhills’ used heavy-duty truck, semi-trailer, farm machinery, and construction equipment markets. Key points from the current reports are listed below. Full reports are available upon request.

U.S. Used Tractors 100 Horsepower & Greater

Inventory levels in this market showed little change, dipping by 2.3% month over month but rising by 1.73% year over year in April. The used 100- to 174-horsepower tractor category experienced the largest M/M fluctuation with a 2.51% decline, while the high-horsepower (300-plus-HP) tractor category saw the most significant YOY increase at 7.1%.
Asking values in this market inched up M/M but decreased YOY and are trending downward. Asking prices ticked up by 0.73% M/M but fell by 4.86% YOY. Compared to other categories, the used 175- to 299-HP tractor category registered the largest YOY decrease at 4.68%.
Auction values dipped slightly by 0.02% M/M and decreased by 4.52% YOY, yet maintained an upward trend overall. The used 175- to 299-HP tractor category saw the largest M/M decrease at 0.92% and the most substantial YOY decrease at 5.53%.
The EVI spread, which measures the percentage difference between asking and auction values, increased to 38%, one point higher than in March and slightly lower than the peak values observed in 2015.

Chart showing current inventory, asking value, and auction value trends for used tractors.

U.S. Used Combines

Inventory levels of used combine harvesters edged up by 0.53% M/M in April, indicating an upward trend, but were 5.43% lower compared to year-ago levels.
Asking values showed a modest increase of 0.22% M/M in April, trending upward, but were down 2.06% YOY.
Auction values continued their upward trajectory, increasing by 1.31% M/M and 2.21% YOY in April.
The EVI spread for used combines decreased for the fourth month in a row to 44% in April, approaching the peak values seen in 2015.

Chart showing current inventory, asking value, and auction value trends for used combine harvesters.

U.S. Used Sprayers

Inventory levels of used sprayers continued their downward trend, declining by 3.69% M/M and 1.81% YOY in April.
Asking values decreased by 1.88% M/M and 4.41% YOY in April, reflecting a downward trend.
Auction values, conversely, dropped by 3.71% M/M and 2.91% YOY, although maintaining an upward trend.
The EVI spread for used sprayers increased three points to 43% in April, slightly below the peak values recorded in 2015.

Chart showing current inventory, asking value, and auction value trends for used sprayers.

U.S. Used Planters

Inventory levels of U.S. used planters continued their downward trend, decreasing by 4.22% M/M and 13.15% YOY in April.
Asking values in this market remained relatively stable, with slight decreases of 0.28% M/M and 1.36% YOY in April.
Auction values, on the other hand, rose by 1.2% M/M and 10.51% YOY in April while maintaining a sideways trend.
The EVI spread for used planters dropped two points to 51% in April, still lower than the peak values observed in 2015.

Chart showing current inventory, asking value, and auction value trends for used planters.

U.S. Used Compact & Utility Tractors

Inventory levels in this market have been trending downward for six months. In April, inventory declined by 4.09% M/M and a substantial 23.71% YOY. The used less-than-40-HP tractor category experienced the most significant decrease, with inventory down 4.98% M/M and 26.69% YOY.
Asking values in this market, despite an upward trend, dipped slightly by 0.19% M/M and were down 1.66% YOY. The used 40- to 99-HP tractor category showed the largest YOY decrease at 3.77%.
Auction values, while trending upward, decreased by 0.34% M/M and 0.35% YOY. The used less-than-40-HP tractor category experienced the largest YOY decrease at 2.54%.

Chart showing current inventory, asking value, and auction value trends for used compact and utility tractors.

U.S. Used Heavy-Duty Construction Equipment

Inventory levels in this market, which includes crawler excavators, dozers, and wheel loaders, have been declining for several consecutive months. In April, inventory decreased by 0.84% M/M and 1.44% YOY. The used crawler excavator category saw the largest M/M inventory decrease at 1.91% and the most significant YOY inventory decrease at 5.35%, while the used wheel loader category exhibited the largest YOY inventory increase at 9.18%.
Asking values in this market remained stable, decreasing by 0.24% M/M and 3.28% YOY in April. Used dozers led other categories with the largest M/M asking value decrease at 1.24%. The used wheel loader category posted the largest YOY asking value decrease at 4.25%.
Auction values also showed little change, decreasing by 0.58% M/M and 2.31% YOY in April. Again, used dozers had the largest M/M auction value decrease at 1.52%, and the used wheel loader category had the largest YOY auction value decrease at 5.23%.

Chart showing current inventory, asking value, and auction value trends for used heavy-duty construction equipment.

U.S. Used Medium-Duty Construction Equipment

Inventory levels of U.S. used medium-duty construction equipment, which includes skid steers, loader backhoes, and mini excavators (up to 12,000 pounds), continued their downward trend in April. Inventory levels decreased by 2.08% M/M but inched up by 0.87% YOY. The used mini excavator category experienced the largest M/M inventory decrease at 6.1% and also the most significant YOY decrease at 9.87%.
Asking prices in this market remained steady, increasing by 0.45% M/M in April but falling by 3.16% YOY. The used wheel skid steer category showed the largest M/M asking value increase at 1.48%. Used track skid steers led other categories in YOY decreases, posting a 6.03% decrease.
Auction values continued their upward trend, rising by 0.24% M/M in April but decreasing by 1.51% YOY. The used mini excavator category showed the largest M/M auction value decrease at 1.17%, while the used track skid steer category showed the largest YOY decrease at 4.08%.

Chart showing current inventory, asking value, and auction value trends for used medium-duty construction equipment.

U.S. Used Lifts

Inventory levels in this market continued an upward trend. In April, inventory increased by 1.65% M/M and 16.19% YOY. The used cushion tire forklift category showed the largest monthly increase, with inventory up 4.82%, while the used rough terrain scissor lift category exhibited the most significant YOY growth, with inventory 34.1% higher than year-ago levels.
Asking prices in this market continued their downward trend. Despite a slight rise of 0.37% M/M, asking values were down 8.16% YOY. The used pneumatic tire forklift category had the largest monthly increase in asking values, up 4.05%, while the used rough terrain scissor lift category showed the steepest year-over-year decline, with asking values down 15.91%.
Auction values in the U.S. lift market remained stable, decreasing by 1.04% M/M and 4.9% YOY. The used cushion tire forklift category posted the largest monthly decline in auction values, down 5.26%, and the largest year-over-year decrease, with auction values down 17.19%.

Chart showing current inventory, asking value, and auction value trends for used lift equipment.

U.S. Used Heavy-Duty Trucks

Inventory levels of U.S. used heavy-duty trucks are trending sideways, with a 3.75% M/M increase but a 23.05% YOY decrease in April. The used sleeper truck category had the largest M/M inventory increase at 4.07% and the most significant YOY inventory decrease at 39.01%.
Asking values in this market remained stable in April, increasing slightly by 0.21% M/M but decreasing by 3.16% YOY. The used day cab category saw the largest M/M asking value decrease at 2.2% and the largest YOY asking value decrease at 4.55%.
Auction values showed little change, increasing by 1.57% M/M but decreasing by 2.2% YOY. Used sleeper trucks exhibited the largest M/M auction value increase at 5.29%, while used day cabs experienced the largest YOY auction value decrease at 8.24%.

Chart showing current inventory, asking value, and auction value trends for used heavy-duty trucks.

U.S. Used Semi-Trailers

Inventory levels in this market remained relatively stable. In April, inventory rose by 1.03% M/M but dropped by 13.39% YOY. Used reefer trailers led other categories with the largest M/M inventory increase at 4.37% and the most substantial YOY decrease at 18.61%.
Asking values in this market are trending upward, increasing by 1.14% M/M but decreasing by 4.9% YOY in April. The used reefer trailer category exhibited the largest M/M asking value increase at 2.98% and the largest YOY decrease at 5.81%.
Auction values continued their upward trend, increasing by 1.4% M/M and 0.54% YOY. Used drop deck trailers showed the largest per-category M/M auction value increase at 2.87%, while the used reefer trailer category experienced the largest YOY decrease at 6.46%.

Chart showing current inventory, asking value, and auction value trends for used semi-trailers.

U.S. Used Medium-Duty Trucks

Inventory in this truck market, which includes box trucks, flatbed trucks, and cab and chassis trucks, continued their upward trend in April. Inventory levels surged by 18.32% M/M and 28.2% YOY. Used dry cargo delivery box trucks led other categories in M/M growth, with inventory 23.51% higher than the previous month, while used reefer box trucks showed the largest YOY increase, with inventory 83.43% higher than year-ago levels.
Asking values in this market declined by 1.64% M/M and 4.3% YOY, continuing a downward trend for eight months. The used moving box truck category experienced the largest M/M decrease in asking values, down 5.34%, and the used dry cargo delivery box truck category showed the largest YOY decrease, down 8.91%.
Auction values also decreased, falling by 3.15% M/M and 4.83% YOY in April and maintaining a downward trend for eight months. Used moving box trucks saw the largest per-category M/M decline in auction values, with a decrease of 8.05%, and used dry cargo delivery box trucks experienced the largest YOY decrease, down 10.49%.

Chart showing current inventory, asking value, and auction value trends for used medium-duty trucks.

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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 Value Insight Portal (VIP), Sandhills’ proprietary asset valuation tool, Sandhills EVI provides useful insights into the ever-changing supply-and-demand conditions for each industry.

Uncertainty Clouds Used Truck & Farm Equipment Markets, But Buying Opportunities Abound