Physical Utilization (US)

Physical utilization during the first half of 2024 remained relatively flat and currently stands at 65.7% as of early July. An increase in fleet sizes, combined with slowing rental demand, has led to the lowest physical utilization levels observed since 2020.

Note: Limited to independents and dealers in the USA. Physical Utilization is computed from daily fleet snapshots from Rouse participants, calculated as “Average Daily Cost on Rent” divided by “Average Daily Cost in Fleet.”

Retail Sales Volumes for Lift Trucks

As of 2024 year-to-date, retail sales volumes for lift trucks are 21% above the 5-year average. While June sales volumes have declined compared to the start of the year, they still exceed the 5-year average by 7%. This increase in volumes is largely attributed to continued improvements in supply chain efficiency.

Note: Limited to independents and dealers in the USA. Used Equipment.

Retail and Auction Values

Retail and auction values have been declining month-over-month since mid-2023. Retail values are currently 5% higher than those observed in January 2019. In contrast, auction values have faced sharper downward pressure, now tracking below January 2019 levels and only slightly above the lows seen during the pandemic in 2020.

Note: Focus on Used Equipment (three to eight years old). Retail and Auction Values Indexed to January 2019, USA only.