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Truck tractor prices up 58% YOY in the U.S. according to Ritchie Bros. April Market Trends Report

04/21/2022

Vocational trucks, medium earthmoving, and aerial equipment also bringing big returns in 2022

VANCOUVER, BC, April 21, 2022 /CNW/ - With its April Market Trends Report, Ritchie Bros. continues to show year over year price inflation for all major equipment categories.

This month's report includes an in depth look at Q1 (Jan – Mar) sales, broken out by manufacturer. A quick look at U.S. construction categories and its clear Ritchie Bros. sells more Caterpillar equipment than any other brand. In fact, when looking at excavator sales in the U.S., the company sold three times more Cat units (370+) than the next manufacturer, John Deere (130+). The April report also digs into sales of dozers, wheel loaders, articulated dump trucks, loader backhoes, multi-terrain loaders, skid steers, telehandlers, boom lifts, scissor lifts, and truck tractors. Visit rbassetsolutions.com/market-trends-report to download the April report today.

"We continue to drive record-breaking demand across our various online auctions and marketplaces, including our largest-ever Montreal auction in March, huge Regional Auction Events, our weekly IronPlanet sales, Marketplace-E events, and Ritchie List," said Doug Olive, Senior Vice President, Pricing, Ritchie Bros. "Regardless of sales channel, pricing has been strong throughout the first quarter of 2022, with truck tractor prices leading the way, up 58% in the United States and 50% in Canada. Overall, all our price indexes are showing year over year price inflation, which means it's a great time to sell."

Doug Rusch, Managing Director of Rouse Sales, added, "We continue to see tight supply and strong end-user demand for equipment across retail and auction markets. Retail values continue to rise month over month, increasing another 2% in March, making that an increase of 24% over the past 16 months. Auction values were also up 2% last month, building on the significant 5% increase we saw in February."

Used Commercial Assets - Pricing Highlights
Price change (±1.5%) year-over-year for the 3 months ending March 31, 2022

Categories

USA

CANADA

Large Earthmoving

Δ

Increased ~

20%

Δ

Increased ~

11%

Medium Earthmoving

Δ

Increased ~

37%

Δ

Increased ~

31%

Aerial

Δ

Increased ~

35%

Δ

Increased ~

23%

Truck Tractors

Δ

Increased ~

58%

Δ

Increased ~

50%

Vocational Trucks

Δ

Increased ~

38%

Δ

Increased ~

30%

Source: Ritchie Bros. transactional data.

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, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace with weekly featured auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Ritchie List, a self-serve listing service for North America; Mascus, a leading European online equipment listing service; Ritchie Bros. Private Treaty, offering privately negotiated sales; and sector-specific solutions GovPlanet, TruckPlanet, and Kruse Energy. 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; SmartEquip, an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; 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.

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