In Q3 2020 (July – Sep) Ritchie Bros. sold a record 1,500+
forklifts in the U.S. for US$10
million
VANCOUVER, BC, Nov. 10, 2020 /CNW/ - Online retailers are
busier than ever, managing massive warehouses, and shipping items
around the world. For Ritchie Bros., this has resulted in record
numbers of forklifts and transport trucks going through its
auctions. Over the past three years, Ritchie Bros. has sold 15,000+
forklifts in the U.S. for US$99
million, including more than 1,500 sold for US$10 million in Q3 2020 alone.
"We're at an interesting intersection with the used forklift
market in the U.S.," said Doug
Olive, Senior Vice President, Pricing and Appraisals,
Ritchie Bros. "When you look at rental companies, some of them
ramped up their fleets—including forklifts—to keep up with growing
demand in 2012, after the global recession. Now at seven to eight
years old, those machines need to be replaced. But, this year with
COVID, OEMs slowed or halted production altogether. Some were also
impacted by disruptions in the supply chain. The increase in online
shopping has also directly impacted the demand for forklifts. This
juncture of supply and demand has contributed to recent stronger
results in the used forklift market."
To learn more about forklift and other equipment sales at
Ritchie Bros., download the November version of the Ritchie Bros.
Used Equipment Market Trends Summary at
rbassetsolutions.com/market-trends-report. The November report also
includes mix adjusted used pricing indices and a new section for
industry highlights, with info and trends for Ritchie Bros.' most
popular equipment categories. This month focuses on the
over-the-road transportation sector, including truck tractors, van
trucks, flatbed trucks, and van trailers.
November 2020 Market
Trends Summary Highlights
|
Equipment
Category
|
USA
|
Canada
|
Used heavy
equipment
|
Prices steady (±
1.5%) year over year
|
Prices increased 1%
(± 1.5%) year over year
|
Truck
tractors
|
Prices increased 3%
(± 1.5%) year over year
|
Prices steady (±
1.5%) year over year
|
Vocational
trucks
|
Prices increased 2%
(± 1.5%) year over year
|
Prices steady (±
1.5%) year over year
|
Lifting/material
handling
|
Prices steady (±
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® 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.
Photos and video for embedding in media stories are
available at rbauction.com/media.
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SOURCE Ritchie Bros.