July Market Trends report showcases a seller's market with
strong returns across all price indexes
VANCOUVER, BC, July 13, 2021 /PRNewswire/ - 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
|
Categories
|
USA
|
CANADA
|
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 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.