Used tractor inventories declined 1.5% month‑over‑month and 20.3% year‑over‑year in May; sub‑100 hp models fell 28.3% YoY, 100‑174 hp down 22.0% YoY, 175‑299 hp down 16.1% YoY, >300 hp down 12.5% YoY. Tractor asking prices slipped 0.5% MoM and 1.5% YoY, while auction prices fell 0.8% MoM but rose 2.4% YoY, narrowing the ask‑auction spread to 3.9% (from 4.1%).
Used combine inventories rose 0.6% MoM but were 10.1% lower YoY; asking prices fell 2.6% MoM and 1.2% YoY, auction prices dropped 1.5% MoM but increased 0.8% YoY, widening the spread to 2.0% (from 0.9%).
Construction excavator inventories dropped 1.6% MoM and 14.2% YoY; asking prices fell 1.5% MoM and 3.3% YoY, auction prices fell 1.8% MoM and 3.1% YoY, with the ask‑auction spread tightening to 0.2% (from 0.6%), the narrowest since Feb 2025.
Total truck inventories fell 1.4% MoM and 27.1% YoY; medium‑duty trucks down 0.9% MoM and 37.5% YoY, Class 8 day‑cab up 0.3% MoM but down 25.3% YoY, sleeper trucks down 3.3% MoM and 20.8% YoY. Truck asking prices rose 0.8% MoM but fell 2.4% YoY; auction prices rose 2.0% MoM and 1.1% YoY, widening the spread to 3.5% (from 1.5%).
