U.S. truck tractor price index is up 20% year over year; medium
earthmoving in the U.S. up 15%
VANCOUVER, BC, April 13, 2021 /PRNewswire/ - Over the last year,
online shopping has hit new heights, positively impacting the
transportation industry, while working from home has resulted in an
increase in home renovations and an exodus to the suburbs, directly
impacting the construction sector. According to Ritchie Bros. Market Trends, which is now
updated with new data daily, U.S. truck tractor pricing is up 20%
year over year (for the three months ending March 31), while medium earthmoving equipment
prices in the United States are up
15%.
With the April 2021 Market Trends
summary report, Ritchie Bros.
focuses on U.S. and Canadian equipment sales in March 2021, using the RB Now! functionality in
the RB Market Trends tool, which provides a snapshot of
Ritchie Bros. transactions over the
last 30 days. The company has also included new, updated price
indexes in this edition, making them simpler and clearer. The
earthmoving index has been split into medium and large, and a more
narrowly defined aerial index has replaced lifting and material
handling.
"March was a big month, with unprecedented demand resulting in
strong pricing across nearly all equipment categories," said
Doug Olive, Senior Vice President,
Pricing, Ritchie Bros. "As showcased
in our new indexes, we continue to see positive pricing trends for
earthmoving, transportation, and aerial equipment. Specifically, we
saw a big year over year uptick in median pricing for excavators,
dozers, articulated dump trucks, skid steers, truck tractors, and
boom lifts last month."
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. Download
the April 2021 Ritchie Bros. Used
Equipment Market Trends summary report at
rbassetsolutions.com/market-trends-report.
"Ritchie Bros. held a number of
large events last month, including three U.S. regional auctions
that sold approximately 15,000 equipment items from 13 different
locations, and attracted 11,000 bidders each," added Mr. Olive. "We
also held our largest-ever Ontario
and Texas auctions last month and
continue to see strong demand and pricing for all our online events
through IronPlanet, GovPlanet, and Marketplace-E, selling more than
17,000 items in March."
Used Commercial
Assets - Pricing Highlights
|
Price change (±1.5%)
year-over-year for the 3 months ending March 31, 2021
|
Categories
|
USA
|
Canada
|
Large
Earthmoving
|
Δ
|
Increased
~
|
5%
|
Δ
|
Increased
~
|
2%
|
Medium
Earthmoving
|
Δ
|
Increased
~
|
15%
|
Δ
|
Increased
~
|
5%
|
Aerial
|
Δ
|
Increased
~
|
13%
|
Δ
|
Increased
~
|
2%
|
Truck
Tractors
|
Δ
|
Increased
~
|
20%
|
Δ
|
Increased
~
|
9%
|
Vocational
Trucks
|
Δ
|
Increased
~
|
16%
|
Δ
|
Increased
~
|
2%
|
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 solutions also includes
Ritchie Bros. Asset Solutions and
Rouse Services LLC, which together provides a complete end-to-end
asset management, data-driven intelligence and performance
benchmarking 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.