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

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

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.

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