Elevated Lift Equipment Inventory Levels Are Lowering Values

Inventory is still trending skyward in the used lift truck market, according to the latest Sandhills Global market reports covering used lift equipment in Sandhills’ U.S. marketplaces. This growth in unit count on dealers’ lots is sustaining downward pressure on auction and asking values in the overall lift category and cushion tire forklifts in particular.

Watch our latest video from LiftsToday Manager Matt Sterup for additional insights into the fluctuations in the used lifting equipment market, which comprises forklifts such as cushion tire, pneumatic tire, and rough terrain models, and what it means for dealers’ bottom lines.

Used Lift Trucks Market Report Video

Looking at the lifts market as a whole, Sterup notes the way the pandemic depleted dealer stocks and forced equipment values higher until the market turned around in 2022. Since then, he says, “We’ve seen a big influx of inventory in the last couple of years, and we’re up roughly 21.5% right now.” In September 2024, lift auction values are down 12.62% year over year while asking prices lag behind at 8.15% down YOY.

In the video, Sterup singles out the cushion tire category of forklifts and the formation of a bubble between its auction values and retail pricing. “This is pretty alarming for our sellers out there, looking at how fast auction prices are dropping. We’re down roughly 19% YOY on the auction values, but we’re down only 13% YOY on the retail side. So, a big gap is forming between retail and auction values, and that is a big red flag and a cause for concern for our sellers,” he says. “If you are heavy on the lift truck side or forklift side, I would be looking at my inventory and really probably having some tough conversations (on pricing) here in Q4.”

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