LINCOLN, Neb., Sept. 29, 2021 /PRNewswire/ -- As we near the end of Q3 2021, combine inventory levels are well below historic levels in Sandhills marketplaces, according to a new Sandhills Global Market Report. At the same time, the percentage of combine inventory sold has increased 4.9 percentage points year-over-year, indicating an increased demand for combines. The coinciding inventory trends have strongly contributed to the recent increase in combine values.
The key metric used in this reporting is the Sandhills Equipment Value Index (EVI). Buyers and sellers can use the information in Sandhills EVI to monitor equipment markets and maximize returns on acquisition, liquidation, and related business decisions.
Sandhills Market Reports highlight the most significant changes in the used heavy-duty truck, construction equipment, and farm machinery markets. Each report includes detailed analysis and charts that help readers visualize the data. The latest report looks specifically at inventory levels and value trends for U.S. used combines, providing critical context to explain increasing combine values, while also comparing recent trends among top manufacturers.
U.S. Used Combine Values
Auction values for used combines are up 18.7% YOY for the month of August, according to Sandhills EVI. Average used combine values at auction were $152,000, up $24,000 in value from August 2020.
Looking specifically at values from January through August 2021, used John Deere combine asking values increased 6% in 2021 vs. the same time frame in 2020. Average asking values for all used combines, within the same time frame comparison, were up 4.1% YOY.
U.S. Used Combine Inventory
There are typically around 9,000 used combines on the market at the close of Q3 in a given year. As of August 2021, these inventory levels dropped to around 7,542. The used combine inventory levels represent lows not seen since late 2011.
During the January to August 2021 time frame, used combine inventory levels for 2021 are 15.6% lower vs. the same time frame in 2020. Used John Deere combine inventory levels are down 15.2% YOY within the same time frame comparison. By contrast, used combine inventory levels decreased by smaller percentages for Case IH (down 7.9%) and New Holland (down 8.7%).
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About Sandhills Global
Sandhills Global is an information processing company headquartered in Lincoln, Nebraska. Our products and services gather, process, and distribute information in the form of trade publications, websites, and online services that connect buyers and sellers across the construction, agriculture, forestry, oil and gas, heavy equipment, commercial trucking, and aviation industries. Our integrated, industry-specific approach to hosted technologies and services offers solutions that help businesses large and small operate efficiently and grow securely, cost-effectively, and successfully. Sandhills Global—we are the cloud.
About the Sandhills Equipment Value Index
The Sandhills Equipment Value Index (EVI) is a principal gauge of the estimated market values of used assets—both currently and over time—across the construction, agricultural, and commercial trucking industries represented by Sandhills Global marketplaces, including AuctionTime.com, TractorHouse.com, MachineryTrader.com, TruckPaper.com, and other industry-specific equipment platforms. Powered by FleetEvaluator, Sandhills' proprietary asset valuation tool, Sandhills EVI provides useful insights into the ever-changing supply-and-demand conditions for each industry.
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SOURCE Sandhills Global