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Truck tractors and heavy equipment prices on the rise according to Ritchie Bros. latest Market Trends report

December 2020 report highlights multi-terrain loaders, dozers, loaders, graders, trucks, and more

 

VANCOUVER, B.C. (January 11, 2021)) – With its auctions 100% online due to COVID-19, Ritchie Bros. drew record buyer demand in 2020. As a result, the company's latest Used Equipment Market Trends report is showing price inflation across all majority equipment categories. For example, U.S. truck tractor prices increased 8% over the same time period (three months ending December) in 2019.

The December 2020 Market Trends summary includes a deep dive into multi-terrain loader sales, the versatile machine used across nearly every industry. In the United States, 2020 has been a particularly strong year for multi-terrain loaders. In fact, in the first three quarters of 2020 (Jan – Sep), Ritchie Bros. sold 2,750+ multi-terrain loaders for US$64 million, which is just shy of total multi-terrain loader sales for 2019.

"Used across industry, the versatile multi-terrain loader was in high demand in 2020, with a record number of units selling through our numerous sales channels," said Doug Olive, Senior Vice President, Pricing, Ritchie Bros. "There are a number of factors that have contributed to this record-breaking year for multi-terrain loader sales, including an uptick in residential construction, rental company fleet renewals, landscaping projects, seasonal work, and more. In the past five years, Ritchie Bros. has sold 14,000 multi-terrain loaders for US$313 million!".

To learn more about equipment and truck prices, download the December version of the Ritchie Bros. Used Equipment Market Trends summary report at rbassetsolutions.com/market-trends-report. The December report also includes mix adjusted used pricing indices, including a comparison chart for the U.S. Ritchie Bros. Heavy Truck Price Index and U.S. Heavy Duty Truck shipments, plus a feature section on small construction highlights.

Used Commercial Assets – December 2020 Summary Highlights (for 3 months ending December 2020)

 

Equipment Category USA Canada

Heavy equipment


Prices increased 2% (± 1.5%) year over year


Prices increased 2% (± 1.5%) year over year


Truck tractors


Prices increased 8% (± 1.5%) year over year


Prices increased 2% (± 1.5%) year over year


Vocational trucks


Prices increased 4% (± 1.5%) year over year


Prices increased 4% (± 1.5%) year over year


Lifting/material handling


Prices increased 1% (± 1.5%) year over year


Prices increased 2% (± 1.5%) year over year

 

The Market Trends application is an independent part of the suite of services within Ritchie Bros. Asset Solutions (rbassetsolutions.com), which is a complete end-to-end asset management and disposition system. This cloud-based SaaS solution brings together a suite of tools and services to help customers better manage, analyze, and sell their assets. From any internet-enabled device, customers are able to access a complete inventory management system, data analytics and dashboards, branded e-commerce sites, and multiple external sales channels.

For more information about Market Trends, please email dataproducts@ritchiebros.com.

About Ritchie Bros.:

Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing the exclusive IronClad Assurance(R) equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company's suite of multichannel sales solutions also includes Ritchie Bros. Asset Solutions, a complete end-to-end asset management and disposition system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy, plus equipment financing and leasing through Ritchie Bros. Financial Services For more information about Ritchie Bros., visit RitchieBros.com.

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Ian Malinski
Media Relations Manager
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CorpComm@rbauction.com