According to Ritchie Bros.’ market trends report for March, truck tractor pricing was up 63% in the United States for the three months ending Feb. 28, while vocational truck and medium earthmoving pricing rose 45% and 42%, respectively.

The market trends report featured an in-depth look at equipment and truck sales from the company’s recent six-day auction in Orlando, FL, which yielded more than $213 million

“We once again set a new bidder record in Orlando, attracting 26,000-plus online and onsite bidders, helping us drive strong pricing across nearly every asset category in the six-day premier global auction,” Doug Olive, senior vice president of pricing at Ritchie Bros., said. “In particular, we achieved outstanding returns for articulated dump trucks, multi-terrain loaders, boom lifts and truck tractors. For the past three months, truck tractor pricing has led the way — up 63% in the United States — while vocational truck and medium earthmoving prices are up 45% and 42%, respectively.”

“Tight supply conditions and strong end-user demand continue to drive increasing used equipment values,” Doug Rusch, managing director of Rouse Sales, said. “Retail values rose 2% in February and have increased 22% over the past 15 months. Auction values also continue to rise — up 5% in February, which is the largest one month increase we’ve seen during the pandemic — driven primarily by strong pricing at the recent Ritchie Bros. Orlando event.”

Source: Ritchie Bros. transactional data. Canadian transactions limited, so only the composite index is available at this time.