By: The Working Forest Staff
VANCOUVER, BC, CNW – Through the first half of 2021 Ritchie Bros. has driven unprecedented demand through its online auctions and marketplaces and achieved strong prices for its consignors. In fact, truck tractor prices in the United States are up 30% year over, while medium earthmoving and vocational truck prices are each up 25%.
With the July 2021 Market Trends Report, Ritchie Bros. takes a closer look at tandem-axle truck tractor sales (4 to 7-year old models) in Canada and the United States. In the U.S. the company is seeing a particularly hot market for 6-year-old trucks (2015 models) right now, while four-year-old models (2017 models) appear to be in strongest demand in Canada. One of the most popular make/models in both countries is the Freightliner Cascadia. Even though 2014 – 2017 truck models were a year older and had higher usage, the median price for Cascadias was more than 45% higher in the first half of 2021 vs. 2020.
“Online shopping continues to drive an extremely hot transportation market right now, with record-high truck prices,” said Doug Olive, Senior Vice President, Ritchie Bros. “But it’s not just transportation. We are seeing pricing strength across the board as this seller’s market continues.”
The free July report is now available for download at: rbassetsolutions.com/market-trends-report.
|Used Commercial Assets – Pricing Highlights
Price change (±1.5%) year-over-year for the 3 months ending June 30, 2021
|Large Earthmoving||^||Increased ~||8%||^||Increased ~||9%|
|Medium Earthmoving||^||Increased ~||25%||^||Increased ~||28%|
|Aerial||^||Increased ~||20%||^||Increased ~||17%|
|Truck Tractors||^||Increased ~||30%||^||Increased ~||14%|
|Vocational Trucks||^||Increased ~||25%||^||Increased ~||21%|
Ritchie Bros.’ Market Trends application is an independent part of Ritchie Bros. Asset Solutions (rbassetsolutions.com), a cloud-based asset management and disposition system with a suite of tools and services to help customers better manage, analyze, and sell their assets. For more information about Market Trends, please email [email protected]