U.S. Used Tractors 100 Horsepower and Greater

  • Inventory levels in this market fell 1.42% month over month and 4.17% year over year in July, continuing a downward trend. The used 100- to 174-HP tractor category had the largest inventory level decreases, down 4.13% M/M and 13.07% YOY.
  • Asking values in this market continued a six-month-long downward trend, dropping 1.37% M/M and 6.28% YOY in July. Used 100- to 174-HP tractors led other categories in M/M asking price decreases with a 2.36% drop, while the used 300-plus-HP tractor category led in YOY decreases, falling 6.03%.
  • Auction values continued to trend downward, with decreases of 1.35% M/M and 2.83% YOY in July. The used 175- to 299-HP tractor category exhibited the largest auction value decreases, down 2% M/M and 4.55% YOY.
  • The EVI spread, which measures the percentage difference between asking and auction values, maintained the same value as the previous month, 39%, which is close to the peak values observed in 2015.

U.S. Used Combines

  • Used combine harvester inventory levels dropped 2.29% M/M and 7.21% YOY in July and are trending down.
  • Asking prices in this market rose 0.93% M/M and 1.98% YOY in July. Both asking and auction values are trending up but depreciating YOY for individual assets. Roughly half of the used combines on Sandhills platforms were zero to five years old in July, and approximately 60% comprised Class 8 or greater models. These data points, combined with rising MSRP values for recently added John Deere and Case IH combines, have caused asking and auction values to appear inflated compared to previous years. For example, a 2022 John Deere S780 posted YOY asking and auction value decreases of 13.9% and 11.7%, respectively.
  • Auction values were up 1.53% M/M and 9.64% YOY, continuing a seven-month-long upward trend.
  • The EVI spread decreased one point from June to 43%, which is lower than the peak values observed in 2015.

U.S. Used Sprayers

  • Inventory levels of used sprayers have been trending downward for five consecutive months. In July, inventory decreased by 1.59% M/M and 7.97% YOY.
  • Asking values decreased by 0.97% M/M and 4.98% YOY and continued a downward trend.
  • Auction values decreased by 0.95% M/M but ticked up by 0.07% YOY and are trending downward.
  • The EVI spread for this market remained at 43%, only slightly lower than the peak values of 2015.

U.S. Used Planters

  • Inventory levels in this market increased by 4.67% M/M but fell 18.19% YOY, continuing a downward trend for the seventh consecutive month.
  • Asking values were up 1.41% M/M, down 0.75% YOY, and are trending sideways.
  • Auction values increased by 2.53% M/M and 10.73% YOY and are also trending sideways.
  • The EVI spread for used planters dropped one point to 51% in July, lower than the peak values seen in 2015.

U.S. Used Compact and Utility Tractors

  • Inventory levels in this market fell 3.48% M/M and 23.77% YOY, continuing a nine-month-long downward trend. Used 40- to 99-HP tractors led other categories in M/M inventory level changes, falling 3.66%, while used tractors less than 40 HP led in YOY decreases, down 25.64%.
  • Asking values showed modest changes in July, down 0.08% M/M and up 0.63% YOY, and are trending sideways. The used sub-40-HP tractor category led in YOY asking value changes with a 1.37% increase.
  • Auction values were up 0.3% M/M and 2.24% YOY and are trending upward. Used 40- to 99-HP tractors led other categories in auction value changes in July, up 0.47% M/M and 0.58% YOY.

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