Ritchie Bros.‘ August market trends report showed that positive pricing trends have continued across all its equipment indexes, with truck tractor prices up 31% in the U.S., while medium earthmoving and vocational truck prices are up 27% and 26%, respectively, for the three months ending July 31.

In this month’s report, Ritchie Bros. took a closer look at skid steer and multi terrain loader sales in the U.S. and Canada. Over the past decade, multi terrain loader sales have grown exponentially in comparison with their wheeled counterparts. In 2010, Ritchie Bros. sold roughly five times more skid steers (3,037 units) in the U.S. than multi terrain loaders (624 units). By 2020, that ratio had changed drastically, as the company sold approximately 2.5 times more multi terrain loaders (3,484) than skid steers (1,310). Interestingly, in Canada, while multi terrain loader sales have certainly grown, skid steer loaders have maintained their lead in terms of number of units sold.

“We continue to drive unprecedented demand in 2021, resulting in pricing strength across all our indexes in this month’s report,” Doug Olive, senior vice president of pricing at Ritchie Bros., said. “Medium earthmoving equipment like skid steer loaders and multi terrain loaders are performing particularly well this year. According to our recent skid steer index, prices for the small but versatile machines are up 30% in Canada and 27% in the United States.”

“The retail market for used compact-sized earthmoving equipment, including skid steer loaders, has shown impressive strength this year, leading all other categories in price achievement,” Doug Rusch, managing director of Rouse Sales, said. “Retail values for compact-sized earthmoving equipment are up 11% since January and are now at the highest level we’ve seen in the last [five-plus] years, indicating healthy demand and an attractive selling environment.”