The newest Sandhills Global market reports covering used equipment, trucks and trailers on Sandhills' U.S. platforms show inventory and values trending down for used heavy-duty trucks. Used truck inventory was particularly lower compared to year-ago levels.

"New truck sales have been stagnant, with pre-buy behavior moving from 2025 to 2026," says Truck Paper Manager Scott Lubischer. "OEMs recognize this, and they have been cutting back production. Given the uncertainty clouding the global economy, many buyers are stalling."

In the used machinery markets, heavy-duty and medium-duty construction equipment inventory continues trending down at a similar rate while values are trending up or sideways in most categories. Inventory levels are rising in the used tractor market (especially in the 300-plus-horsepower category), auction values are trending up, and asking values are trending down.

"Buyers are acting cautiously, paying close attention to interest rates, tariffs, and commodity prices," says TractorHouse Manager Ryan Dolezal. "Inventory levels are elevated, so many buyers are shopping for the lowest prices and only purchasing units when absolutely necessary. Dealers will need to stay attuned to the market and price accordingly to be successful as these market conditions will likely continue into spring."

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, semitrailer, farm machinery, and construction equipment markets. Key points from the current reports are listed below. Full reports are available upon request.

U.S. Used Heavy-Duty Trucks

• Inventory levels of U.S. used heavy-duty trucks on Sandhills platforms have been trending down for seven months. Inventory levels posted a modest month-over-month increase of 0.24% in March but were down 23.02% year over year. Used day cab inventory levels were up 2.18% M/M, more than other categories, while used sleeper trucks led in YOY inventory decreases with a 40.56% drop.

• Asking prices have also been trending downward for seven months, rising just 0.06% M/M in March but decreasing 6.31% YOY. The day cab truck category led in YOY asking value decreases with a 7.35% decrease.

• Auction values continued a downward trend as well, with decreases of 0.52% M/M and 6.6% YOY in March. Used sleeper truck auction values were down 1.27% M/M, more than other categories. Used day cab truck auction values decreased more than other categories YOY, down 8.86%.

U.S. Used Semitrailers

• Inventory levels in this category continued trending sideways in March despite decreases of 0.24% M/M and 11.75% YOY. In terms of M/M changes, used flatbed trailers showed the largest category increase at 5.95% while used dry van trailers posted the largest category decrease at 2.59%. The used reefer trailer category drove YOY inventory decreases in this market with a 24.35% drop.

• Asking values fell 0.95% M/M and 8.43% YOY in March and are trending down. Used reefer trailer asking values decreased more than other categories both M/M at 3.61% and YOY at 13.21%.

• Auction values, however, are trending up, posting a 0.59% M/M increase and a 3.13% YOY decrease in March. Used reefer trailers led other categories in auction value decreases as well with 3.11% M/M and 12.95% YOY declines.

U.S. Used Medium-Duty Trucks

• Inventory has been growing in this market, a trend that continued in March with 5.45% M/M and 13.35% YOY inventory level increases. Used dry cargo delivery box trucks exhibited the largest M/M category increase at 6.94% while used reefer box trucks had the largest YOY category increase at 56.6%.

• Asking values decreased by 1.54% M/M and 3.22% YOY in March, continuing a downward trend. These changes were led by the used moving box truck category, with asking prices down 3.84% M/M, and the used dry cargo delivery box truck category, with asking prices 8.09% lower than year-ago levels.

• Similarly, auction values decreased by 1.04% M/M and 2.5% YOY and are trending down. Used reefer box truck auction values decreased more than other categories M/M at 4.55% while used dry cargo delivery box trucks led other categories in YOY decreases, falling 9.77%.

U.S. Used Tractors 100 Horsepower and Greater

• Inventory levels in this market have been trending upward. This continued in March, with inventory increasing by 1.72% M/M and 5.62% YOY. The used high-hp tractor category (300 hp and greater) posted the highest inventory gains, up 2.37% M/M and 11.84% YOY.

• Used tractor asking values showed a marginal 0.46% M/M decrease and a sharper 5.45% YOY drop in March. Used 175- to 299-hp tractors led other categories in YOY asking value decreases, down 5.38%.

• Auction values increased slightly M/M at 0.83% but were down 4.61% YOY. Still, auction values are trending up. Used high-hp tractors constituted the category with the highest M/M auction value increase, up 2.76%, while used 175- to 299-hp tractors decreased the most YOY at 5.08%.

• The Sandhills EVI spread, which measures the percentage difference between asking and auction values, dropped one point in March to 37%, slightly lower than the peak values seen in 2015.

The remainder of the report and commentary can be requested here.