Ritchie Bros. Reports Positive Price Performance Across Equipment Categories in Q1



According to Ritchie Bros. Market Trends, which is now updated with new data daily, U.S. truck tractor pricing was up 20% year over year for the three months ending March 31, 2021, while medium earthmoving equipment prices in the United States were up 15%.

“March was a big month, with unprecedented demand resulting in strong pricing across nearly all equipment categories,” Doug Olive, senior vice president of pricing at Ritchie Bros., said. “As showcased in our new indexes, we continue to see positive pricing trends for earthmoving, transportation and aerial equipment. Specifically, we saw a big year-over-year uptick in median pricing for excavators, dozers, articulated dump trucks, skid steers, truck tractors and boom lifts last month.”

Ritchie Bros.’ Market Trends application is an independent part of Ritchie Bros. Asset Solutions, a cloud-based asset management and disposition system.

“Ritchie Bros. held a number of large events last month, including three U.S. regional auctions that sold approximately 15,000 equipment items from 13 different locations and attracted 11,000 bidders each,” Olive said. “We also held our largest-ever Ontario and Texas auctions last month and continue to see strong demand and pricing for all our online events through IronPlanet, GovPlanet and Marketplace-E, selling more than 17,000 items in March.”

Used Commercial Assets – Pricing Highlights
Price change (±1.5%) year-over-year for the three months ending March 31, 2021
Categories U.S. Canada
Large Earthmoving Δ Increased ~ 5% Δ Increased ~ 2%
Medium Earthmoving Δ Increased ~ 15% Δ Increased ~ 5%
Aerial Δ Increased ~ 13% Δ Increased ~ 2%
Truck Tractors Δ Increased ~ 20% Δ Increased ~ 9%
Vocational Trucks Δ Increased ~ 16% Δ Increased ~ 2%

 


Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com