Executive Summary
The heavy equipment market posted significant price movements over the past 30 days, with trailer and lifting equipment leading gains and select truck categories experiencing notable declines. Fruehauf guarantee values jumped from $3,858 to $14,266—a 269.8% increase—while listing prices rose 237.0% from $5,601 to $18,877. Link-Belt guarantee values more than doubled, climbing 104.7% from $50,407 to $103,193, with listings up 95.3% from $72,317 to $141,250.
On the decline side, Elgin guarantee values plummeted 58.3% from $9,977 to $4,160, with matching listing price drops. Isuzu guarantee values fell 20.9% from $15,874 to $12,561, and listings crashed 27.9% from $23,268 to $16,786. GMC guarantee values dropped 15.5% from $7,162 to $6,049.
Caterpillar remains the volume leader with 1,330 current period valuations (up from 1,036), posting solid guarantee gains of 10.9% ($41,047 to $45,521) and listing gains of 10.1% ($54,024 to $59,502).
Categories with Major Price Movements (>5% Change)
Surging Categories
Fruehauf leads all movers with guarantee values up 269.8% and listings up 237.0%. Valuation volume held relatively steady at 30 units (prior: 38). This dramatic repricing likely reflects a shift in available inventory mix toward newer or higher-spec trailer models.
Link-Belt guarantee values doubled to $103,193 from $50,407, with listings reaching $141,250 from $72,317. Valuations increased from 31 to 55 units, indicating both price and volume expansion in the crane market.
Hyundai guarantee values rose 34.8% from $30,742 to $41,434, with listings up 26.1% from $43,254 to $54,547. Valuations grew from 35 to 42 units. Browse Excavators
Terex guarantee values climbed 31.2% from $25,163 to $33,021, with listings surging 46.4% from $33,861 to $49,564. Volume remained stable at 109 valuations. Browse Cranes & Lifts
Autocar guarantee values gained 35.1% from $6,906 to $9,327, with listings up 27.2% from $9,885 to $12,570.
MAC guarantee values rose 34.1% from $29,625 to $39,725, with listings up 33.0% from $39,803 to $52,935. Valuations increased from 11 to 16 units.
Genie guarantee values increased 23.9% from $7,652 to $9,478, with listings up 25.5% from $10,340 to $12,972. Volume expanded from 42 to 54 valuations.
Grove guarantee values rose 22.2% from $17,575 to $21,484, with listings up 14.0% from $25,884 to $29,503.
Wabash National guarantee values gained 21.8% from $3,278 to $3,994, with listings up 23.6% from $4,015 to $4,961.
Kaufman guarantee values increased 29.2% from $11,313 to $14,611, with listings up 20.7% from $15,813 to $19,090.
LeeBoy guarantee values rose 18.0% from $23,044 to $27,192, with listings up 14.8% from $32,677 to $37,497.
Custom Built guarantee values gained 17.9% from $5,248 to $6,185, with listings up 18.8% from $6,832 to $8,116.
Western Star guarantee values rose 5.7% from $33,066 to $34,942, with listings jumping 17.4% from $42,406 to $49,796. Valuations surged from 41 to 58 units.
RAM guarantee values increased 11.4% from $18,269 to $20,353, with listings up 17.4% from $26,695 to $31,351.
Volvo guarantee values gained 13.0% from $32,162 to $36,356, with listings up 9.3% from $42,428 to $46,383. Note: valuations declined from 228 to 171 units, suggesting tighter supply driving prices.
Ford guarantee values rose 12.8% from $11,010 to $12,414, with listings up 12.6% from $16,466 to $18,546. Volume declined slightly from 355 to 331 valuations.
Dynapac guarantee values increased 13.4% from $11,886 to $13,473, with listings up 11.7% from $15,402 to $17,198. Valuations nearly doubled from 17 to 27 units.
Case guarantee values rose 9.4% from $29,781 to $32,586, with listings up 11.3% from $38,029 to $42,323. Volume expanded from 157 to 182 valuations. Browse Skid Steers
Hitachi guarantee values gained 9.2% from $39,945 to $43,604, with listings up 9.0% from $56,045 to $61,085. Valuations grew from 53 to 64 units.
Caterpillar guarantee values rose 10.9% from $41,047 to $45,521, with listings up 10.1% from $54,024 to $59,502. Volume surged from 1,036 to 1,330 valuations, the largest absolute increase tracked.
Bomag guarantee values increased 10.1% from $11,158 to $12,290, with listings up 10.4% from $14,104 to $15,571. Volume grew from 32 to 45 valuations.
International guarantee values rose 8.7% from $14,547 to $15,818, with listings up 7.9% from $20,206 to $21,801. Volume declined from 343 to 327 valuations.
JCB guarantee values gained 8.0% from $18,865 to $20,377, with listings up 6.3% from $26,044 to $27,691.
Great Dane guarantee values rose 19.6% from $5,653 to $6,759, with listings up 16.2% from $7,539 to $8,763. Volume declined from 30 to 20 valuations.
Dodge guarantee values increased 13.9% from $14,641 to $16,671, with listings up 1.5% from $22,439 to $22,776. Volume dropped from 16 to 10 valuations.
Declining Categories
Elgin guarantee values crashed 58.3% from $9,977 to $4,160, with listings matching at $5,200 from $12,472. Volume declined from 15 to 11 valuations.
Metso guarantee values fell 29.0% from $128,024 to $90,903, with listings down 25.9% from $170,040 to $126,040. Volume declined from 14 to 12 valuations.
Isuzu guarantee values dropped 20.9% from $15,874 to $12,561, with listings plummeting 27.9% from $23,268 to $16,786. Valuations increased from 27 to 39 units—more volume entering at lower price points.
Utility guarantee values fell 19.6% from $7,826 to $6,290, with listings down 24.6% from $10,835 to $8,174. Volume declined from 45 to 36 valuations.
Ingersoll-Rand guarantee values dropped 17.9% from $8,691 to $7,137, with listings down 16.7% from $10,751 to $8,958. Volume fell from 54 to 45 valuations.
Kawasaki guarantee values fell 16.3% from $18,569 to $15,543, with listings down 15.5% from $24,655 to $20,823. Volume increased from 13 to 20 valuations.
GMC guarantee values dropped 15.5% from $7,162 to $6,049, with listings down 12.2% from $10,746 to $9,439. Volume held flat at 142 valuations.
Vermeer guarantee values fell 13.6% from $62,423 to $53,935, with listings down 15.2% from $81,675 to $69,273. Volume held at 30 valuations.
Chevrolet guarantee values dropped 12.4% from $11,261 to $9,866, with listings down 8.3% from $15,579 to $14,287. Volume declined from 106 to 97 valuations.
Manitowoc guarantee values fell 12.1% from $90,528 to $79,541, with listings down 12.6% from $127,100 to $111,069. Volume held at 20 valuations.
Trail King guarantee values dropped 10.6% from $20,582 to $18,408, with listings down 13.6% from $29,520 to $25,518. Volume collapsed from 53 to 22 valuations.
Sterling guarantee values fell 11.8% from $15,710 to $13,857, with listings down 10.5% from $23,492 to $21,015. Volume declined from 89 to 76 valuations.
Blaw-Knox guarantee values dropped 16.5% from $5,547 to $4,634, with listings matching at $6,024 from $7,211. Volume grew from 14 to 18 valuations.
Sandvik guarantee values fell 12.9% from $107,544 to $93,630, with listings down 10.9% from $152,661 to $135,958. Volume increased from 24 to 27 valuations.
Doosan guarantee values dropped 8.0% from $46,008 to $42,341, with listings down 7.2% from $62,889 to $58,382. Volume grew from 30 to 33 valuations. Browse Doosan Equipment
McCloskey guarantee values fell 9.6% from $158,974 to $143,650, though listings ticked up 0.3% from $186,571 to $187,107. Volume dropped from 23 to 16 valuations.
P & H guarantee values dropped 8.5% from $5,793 to $5,301, with listings down 8.1% from $8,446 to $7,763. Volume declined from 18 to 17 valuations.
Dorsey guarantee values fell 8.6% from $19,399 to $17,730, with listings down 12.2% from $28,015 to $24,608. Volume declined from 13 to 10 valuations.
Rogers guarantee values dropped 6.5% from $18,126 to $16,940, with listings down 7.5% from $23,657 to $21,879. Volume held at 19-20 valuations.
Peterbilt guarantee values fell 5.3% from $35,533 to $33,648, with listings matching at $46,178 from $48,771. Volume declined from 379 to 353 valuations.
Freightliner guarantee values dropped 3.1% from $20,320 to $19,681, though listings rose 2.1% from $28,753 to $29,345. Volume fell from 354 to 304 valuations.
Kubota guarantee values fell 4.9% from $26,962 to $25,634, with listings down 1.3% from $32,966 to $32,539. Volume grew from 64 to 92 valuations.
New Holland guarantee values dropped 3.1% from $18,647 to $18,067, with listings down 5.2% from $23,589 to $22,369. Volume increased from 37 to 47 valuations.
Market Drivers Analysis
Several factors explain these divergent price movements:
Seasonal construction acceleration drives demand for earthmoving and lifting equipment. Caterpillar's 28% valuation volume increase (1,036 to 1,330) alongside 10.9% price gains reflects robust spring project starts. Case, Hitachi, and Komatsu (2.8% guarantee gain, 8.9% listing gain) show similar earthmoving strength.
Infrastructure project timing benefits crane and lift manufacturers. Link-Belt, Terex, Genie, and Grove all posted double-digit gains as contractors position equipment for summer bridge, utility, and commercial work.
Truck market bifurcation creates winners and losers. Ford (+12.8%) and International (+8.7%) gain while GMC (-15.5%), Chevrolet (-12.4%), and Isuzu (-20.9%) decline. This reflects fleet renewal patterns favoring certain engine platforms and cab configurations over others.
Trailer market repricing shows extreme volatility. Fruehauf's 269.8% jump and Wabash National's 21.8% gain contrast with Utility's 19.6% drop and Trail King's 10.6% decline. Refrigerated and specialized trailer demand diverges from dry van trends.
Compaction and paving seasonality pushes Bomag (+10.1%) and Dynapac (+13.4%) higher as state DOT lettings accelerate. LeeBoy's 18.0% gain confirms paving equipment demand.
Mining and aggregate softness hits Metso (-29.0%) and Sandvik (-12.9%), reflecting copper and aggregate price uncertainty delaying capital commitments.
Actionable Advice for Buyers
Immediate opportunities exist in declining truck categories. GMC guarantee values at $6,049 (down from $7,162) and Chevrolet at $9,866 (down from $11,261) represent value for light-duty fleet operators. Isuzu listings at $16,786 (down 27.9%) offer commercial truck buyers significant savings.
Consider Peterbilt and Freightliner guarantees for Class 8 acquisitions. Peterbilt guarantee values at $33,648 (down 5.3%) and Freightliner at $19,681 (down 3.1%) provide entry points before potential Q3 recovery.
Komatsu and Case earthmoving equipment offers balanced value. Komatsu guarantee values at $38,481 with listing premiums narrowing; Case guarantees at $32,586 with strong volume growth (157 to 182 valuations) indicate liquid, fairly priced inventory. Browse Excavators
Avoid chasing Link-Belt and Fruehauf at current levels unless specific model-year requirements demand it. The 104.7% and 269.8% moves likely reflect mix shifts rather than pure appreciation—verify unit specifications before paying premiums.
Actionable Advice for Sellers
List Caterpillar, Volvo, and Case equipment immediately. These categories show rising prices with strong or growing valuation volumes. Caterpillar's 1,330 valuations and 10.9% guarantee gain create optimal seller conditions. Volvo's 13.0% guarantee gain with declining volume (228 to 171) signals supply-constrained appreciation.
Time truck sales strategically. Ford (+12.8%) and International (+8.7%) trends support listing now. Hold GMC, Chevrolet, and Isuzu units if possible—these declines may reverse with freight rate improvements.
Capitalize on crane and lift strength. Terex, Genie, and Grove buyers are paying premiums. Link-Belt sellers should move fast—current $103,193 guarantee levels may not sustain.
Paving and compaction equipment (Bomag, Dynapac, LeeBoy) typically peaks in May-June. List now to catch seasonal demand before July-August softness.
30-Day Outlook
Earthmoving and lifting equipment strength likely continues through June as construction backlog clears. Caterpillar volume above 1,300 valuations supports sustained pricing if project starts hold.
Truck category divergence probably narrows. The 15.5% GMC decline and 12.8% Ford gain represent extreme dispersion—expect mean reversion as fleet buyers compare total cost of ownership across brands.
Trailer volatility (Fruehauf, Wabash National, Utility) should stabilize as Q2 freight data clarifies 2024 rate environments. Avoid speculative buying in this segment without committed haul contracts.
Crane categories (Link-Belt, Terex, Grove) face Q3 risk if commercial construction starts lag. Current premiums assume continued office and data center strength—monitor regional permit data closely.
Aggregate and mining equipment (Metso, Sandvik, McCloskey) likely remains soft through Q2 without commodity price recovery. Sellers in these categories should consider guaranteed sale programs to lock value.
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