In its latest used equipment market trends report, Ritchie Bros. said that it drew record buyer demand in 2020 as its auctions were held 100% online. Ritchie Bros. noted that the increased demand resulted in price inflation across all equipment categories. For example, U.S. truck tractor prices increased 8% compared with the same time period (three months ending December) in 2019.

The December 2020 market trends summary includes a deep dive into multi-terrain loader sales. According to Ritchie Bros., in the United States, 2020 was a particularly strong year for multi-terrain loaders. In fact, in the first three quarters of 2020 (January to September), Ritchie Bros. sold more than 2,750 multi-terrain loaders for $64 million, which was just shy of total multi-terrain loader sales for 2019.

“Used across industry, the versatile multi-terrain loader was in high demand in 2020, with a record number of units selling through our numerous sales channels,” Doug Olive, senior vice president of pricing for Ritchie Bros., said. “There are a number of factors that have contributed to this record-breaking year for multi-terrain loader sales, including an uptick in residential construction, rental company fleet renewals, landscaping projects, seasonal work and more. In the past five years, Ritchie Bros. has sold 14,000 multi-terrain loaders for US$313 million.”