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US Industry Report

Nov. 7 2023 News By Alpha & Omega Equipment

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U.S. Used Heavy-Duty Construction Equipment

  • The U.S. supply of used heavy-duty construction equipment has been growing for several months, but this has not been matched by strong demand. Inventory levels increased 1.46% M/M and 13.54% YOY in October.
  • Asking values have been trending down but increased slightly, by 0.15% M/M, in October. Asking values were 2.62% lower YOY, reflecting a growing market for used heavy-duty construction equipment. 
  • Auction values were down 1.59% M/M and 7.8% YOY, adding to months of decreases, which indicates a weaker auction market for used heavy-duty construction equipment.

 

U.S. Used Medium-Duty Construction Equipment

  • Supply in this market has been rising for months, reaching a 63.45% YOY increase in October, but demand has not kept up and both asking and auction values have dropped. Inventory rose 5.94% M/M.
  • Both asking and auction values have declined for consecutive months. Asking values fell 1.18% M/M and 4.05% YOY in October.
  • Auction values fell 2.68% M/M and 11.26% YOY. 

 

U.S. Used Lifts

  • The supply of lifts in the U.S. has been rising for months. This did not change in October, with inventory levels posting increases of 1.73% M/M and 16.11% YOY.
  • Asking and auction values, meanwhile, have been falling for consecutive months. Asking values dropped 1.84% M/M and 2.32% YOY in October.
  • Auction values decreased 3.28% M/M and 12.02% YOY.

 

U.S. Used Heavy-Duty Trucks

  • The supply of used heavy-duty trucks in the U.S. has been rising for several months with inventory levels reaching a 46.71% year-over-year increase in October. Inventory levels were up 3.35% month over month and are trending up.
  • However, the market has not responded with strong demand for the abundance of used trucks, as illustrated by 18 months of consecutive declines in asking and auction values. Asking and auction values were both lower in October than they were last year, reflecting a weak overall market for used heavy-duty trucks. Asking values were down 3.31% M/M and 21.64% YOY and are trending down. 
  • Auction values were down 4.33% M/M and 28.53% YOY and are trending down.

 

U.S. Used Medium-Duty Trucks

  • Used medium-duty truck inventory levels have surged in 2023. Following months of consecutive increases, inventory levels ticked up 0.34% M/M and rose 44.06% YOY in October.
  • Asking and auction values, however, have not risen, and the latest figures indicate a weak demand in this market. Asking values were down 0.12% M/M in October after months of decreases and were 15.21% lower than last year.
  • Auction values were up 0.29% M/M and down 19.7% YOY and are trending down.

 

U.S. Used Semitrailers

  • Inventory levels of used semitrailers have exhibited significant growth in 2023. This is particularly true of dry van semitrailers as their supply more than doubled compared to last year. Used semitrailer inventory increased 8.29% M/M following several months of increases and rose 89.15% YOY.
  • Increased supply has led to declines in asking and auction values, both of which are trending down. Asking values inched down 0.98% M/M in October after months of decreases and were 19.67% lower than last year.
  • Auction values showed a similar pattern, down 1.05% M/M after months of decreases and posting a 25.83% YOY decline.

 

U.S. Used High-Horsepower Tractors (300 HP and Greater)

  • Inventory levels of used high-horsepower tractors rose 3.29% M/M and 84.19% YOY in October.
  • This market has recently shown some stability for both asking and auction values, indicating market corrections are in play. Asking values were up 0.27% M/M and 10.47% YOY and are trending up.
  • Auction values were up 0.66% M/M following months of increases but were down 0.86% YOY.

 

U.S. Used Compact and Utility Tractors

  • Used compact and utility tractor inventory levels have grown throughout 2023. Following months of increases, inventory levels were up 6.76% M/M and 30.2% YOY in October.
  • As inventory continues to pile up, asking and auction values have experienced months of declines. Asking values were down 0.1% M/M and 2.98% YOY.
  • Auction values were down 0.8% M/M and 6.21% YOY in October.