According to Ritchie Bros.’ July market trends report, mix-adjusted price indexes (for April to June) showed prices for used large and medium earthmoving categories were up 15% and 20% year over year, respectively, while aerial equipment was up 18% in the United States.

Price indexes in Canada showed similar trends, with large and medium earthmoving equipment up 14% and 19%, respectively, while aerial equipment was up 10%. Truck tractor prices in the United States and Canada continued to lead with the highest year-over-year price inflation — up 39% in the United States and 31% in Canada. As mentioned in the June report, while Ritchie Bros. indexes show pricing above last year’s level, across the board they are down by single digit percentages relative to earlier in 2022.

“Used equipment sales volumes continue to run behind prior year levels across all sales channels,” Doug Rusch, managing director of Rouse Sales, said. “Retail values for most categories of equipment continued to rise in June, albeit at a slower pace than we’ve seen in recent months. After rising 18 straight months, auction values have stabilized. In some cases — aerial, telehandlers and medium-sized earthmoving equipment — auction values decreased slightly last month in contrast to record highs experienced in recent months.”