“Excavator inventory, as far as the heavy-duty side, has probably been the biggest driver in numbers as you see inventory climbing up in that space,” Sandhills’ Ryan said.
Medium-duty values more stable
While Sandhills’ used medium-duty construction demand also declined, values were more stable than heavy-duty construction:
Retail values declined 1.4% MoM and 5.2% YoY;
Auction values inched down 0.1% MoM and 11.1% YoY;
Inventory rose 5.5% MoM and 71.2% YoY.
“On the medium-duty side, we’re starting to see things recover post-pandemic as far as inventory levels go,” he said. “It‘s a different dynamic with that side, but you’re not seeing a lot of demand be there.”
Lift values dip
Sandhills’ lift data remained mixed in November as the more niche construction market has yet to feel the same impact as the wider construction industry:
Retail values for used lifts rose 1.4% MoM but remained down 1.7% YoY;
Auction values dipped 1.4% MoM and 13.8% YoY;
Inventory jumped up 3.2% MoM and 14.6% YoY.
“Inventory levels are starting to tick up on the lift side, but not as volatile as the rest of the construction world,” Ryan said. “Lifts are more of a specialty niche market within the construction industry. You’re continuing to see the supply chain ramp up.”