Market News: Used Construction Equipment Outlook for April 2023

In the past couple of months, the demand for used construction equipment has been declining as the global economic slowdown has affected the export market. Many companies are finding it hard to sell their inventory, and the prices of quality used equipment remain high due to the shortage of new and used machines.

However, the local market in North America is still good, and it is more profitable for companies to sell locally. Local customers are paying top dollar for quality used CAT, John Deere, Volvo graders, wheel loaders, and excavators. They are even opening up to buying high-hour used CAT equipment as long as it is in good running condition.

Equipment Trend

Due to the low inventory of used heavy equipment, customers are buying older machines that are still in good running condition. This trend is expected to continue in the coming months as the supply of new machines is delayed, and end-users are holding on to their used equipment. But a lot of people also struggle with the challenge of finding quality used construction equipment at reasonable prices.

The reluctance of companies to invest in new equipment due to high-interest rates

The high-interest rates for loans and working capital are making it harder for companies to invest in new equipment. With interest rates up to 9.0%, many companies are thinking twice before buying.

Looking ahead, April is expected to be another challenging month for the used equipment market. As companies try to navigate through the low inventory and high prices, they will need to be creative and strategic to make a profit in this market.