Uptick In Used Forklift Values Generates Cautious Optimism

According to new Sandhills Global market reports, inventory levels of lifting equipment in Sandhills’ U.S. marketplaces were down 2.92% month over month but up 17.9% year over year in October and trending upward. Values were also mixed, but asking price and auction value trends remained steady.

In our new market report video, Machinery Trader Contractors Department Manager Matt Sterup zeroes looks at these trends and zeroes in on differences in the pneumatic-tire forklift and cushion tire forklift categories.

Used Forklift Market Report Video

Sterup says that in 2022, post-COVID, “inventory started to come back as you can see in the chart on the right-hand side, and of course that's going to drive down pricing, and that’s exactly what we’re seeing on the left.” So, after a 2022 peak in values, “inventory starts to skyrocket and auction prices really start to drop down, and then here comes the retail side. We did see a little bit of an uptick over the past month or so, which has created a lot of optimism for our sellers, with buyers doing some end-of-year spending.”

Sterup then looks at the pneumatic tire forklift category. “This chart shows asking vs. auction value EVI. This shows us the relationship between asking and auction values. The thing to pay attention to is the gap between retail and auction values. Looking at 2020, look at this gap. You can see the gap was maintained through a four-year span.” Watch the video to learn more about the pneumatic and cushion-tire forklift markets.

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