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Used Tractor Inventory is Growing, Is It a Buyer's Market?
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Used tractor inventory is rising, according to information recently released by Sandhills Global, parent company of TractorHouse and AuctionTime, both services that track a large percentage of the used equipment transactions across the U.S. Is it now a buyer's market or are we just getting back to normal after the pandemic? That's hard to say right now, but you're definitely in a better bargaining position to make an equipment purchase versus a year ago.
Inventory levels for used compact and utility tractors are up 80.58% from the same time last year according to the latest data. As used inventory of compact and utility tractors has continued to grow, asking value increases have slowed. Although auction values have dropped sharply from last year, they've risen seasonally as the Spring buying season took off. The change in auction values versus the change in retail asking prices is currently out of proportion. It is expected that these numbers will come back in line, with growing inventory forcing equipment dealers to lower asking prices.
Since the pandemic, inventory of compact and utility tractors have increased faster than higher-horsepower farm tractors, and farm equipment companies and dealers are currently monitoring these changing trends and closely watching inventory levels.
So, the bottom line is, the low inventory levels of the pandemic are history and used equipment values could be dropping if the trend continues. It's a good time to be buying a used tractor.
LINKS YOU NEED TO KNOW ABOUT...
Copyright 2023 Tractor Mike LLC
Inventory levels for used compact and utility tractors are up 80.58% from the same time last year according to the latest data. As used inventory of compact and utility tractors has continued to grow, asking value increases have slowed. Although auction values have dropped sharply from last year, they've risen seasonally as the Spring buying season took off. The change in auction values versus the change in retail asking prices is currently out of proportion. It is expected that these numbers will come back in line, with growing inventory forcing equipment dealers to lower asking prices.
Since the pandemic, inventory of compact and utility tractors have increased faster than higher-horsepower farm tractors, and farm equipment companies and dealers are currently monitoring these changing trends and closely watching inventory levels.
So, the bottom line is, the low inventory levels of the pandemic are history and used equipment values could be dropping if the trend continues. It's a good time to be buying a used tractor.
LINKS YOU NEED TO KNOW ABOUT...
Copyright 2023 Tractor Mike LLC
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