Ritchie Bros.‘ October Market Trends Report showed continued positive pricing trends across all its equipment indexes, with vocational truck prices up 35% in the United States, while truck tractor and medium earthmoving prices were up 46% and 38%, respectively, for the three months ending Sept. 30.

In this month’s report, Ritchie Bros. included a special focus on vocational trucks sold in the United States and Canada. When looking specifically at mixer trucks, mechanics trucks and flatbed trucks sold in the U.S., older units sold for more money, as many companies are holding on to older equipment and trucks because of the uncertainty in the supply chain for new assets. In Q3/21 alone, the median price for mechanics trucks in the U.S. was up 54% year over year and up 69% in Canada.

“We continue to drive unprecedented demand across all our marketplaces, with our two most recent regional auction events in September registering more than 20,000 online bidders combined,” Doug Olive, senior vice president of pricing at Ritchie Bros., said. “Transportation equipment prices are hitting new record levels, while medium earthmoving, aerial and vocational truck prices also continue to climb.”

“Used equipment is transacting at the highest price levels we’ve seen in five years at Rouse,” Doug Rusch, managing director of Rouse Sales, said. “In fact, the rise in retail values is accelerating, with values in August and September increasing at a more significantly rapid rate than the first half of 2021. Coinciding with the rise in retail values, which climbed an additional 3% in September, we have seen a moderate decline in used equipment sales volumes, as used supply remains tight across the industry and fleet owners carefully manage available inventory.”