Ritchie Bros. Reports 30% Uptick in Truck Tractor Prices in H1/21

JUL 14, 2021 - 6:19 am

According to Ritchie Bros.’ July 2021 Market Trends Report, through the first half of 2021, truck tractor prices in the United States are up 30% year over year, while medium earthmoving and vocational truck prices are each up 25%.

In the U.S., Ritchie Bros. is seeing a particularly hot market for six-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 to 2017 truck models are a year older and have higher usage, the median price for Cascadias was more than 45% higher in the first half of 2021 compared with 2020.

“Online shopping continues to drive an extremely hot transportation market right now, with record high truck prices,” Doug Olive, senior vice president at Ritchie Bros., said. “But it’s not just transportation. We are seeing pricing strength across the board as this seller’s market continues.”

Used Commercial Assets – Pricing Highlights Price change (±1.5%) year over year for the three months ending June 30, 2021
Categories	U.S.			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%