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Prices Rising Across Ritchie Bros. November Market Trends Report

November 17, 2021, 07:05 AM
Filed Under: Equipment News

Ritchie Bros.' November Market Trends Report continues to show positive pricing trends across all its equipment indexes, with medium earthmoving equipment prices up 36 percent in the United States, while truck tractors and vocational trucks are up 45 percent and 34 percent respectively (for the three months ending Oct. 31, 2021).

With this month's report, Ritchie Bros. included a special focus on earthmoving equipment sales in the United States and Canada. According to Ritchie Bros. price indexes, wheel loader pricing is up 13 percent in the United States, while dozer pricing is up 10 percent. The free November report is available for download at:

"Supply chain issues continue to disrupt the equipment market, resulting in volume declines and older assets with higher usage coming to market in 2021," said Doug Olive, Senior Vice President (Pricing), Ritchie Bros. "This tightening supply combined with the unprecedented demand we are driving through our numerous marketplaces is resulting in strong pricing across nearly all asset categories, including dirt moving equipment like dozers, loaders and articulated dump trucks."

Doug Rusch, Managing Director of Rouse Sales, added, "We continue to observe strong used equipment prices, with retail values rising a further 2 percent in October. Coinciding with this rise we are also seeing a lingering slowdown in transaction volumes, as ongoing supply chain issues continue to drive cautious fleet management decisions. Retail values now stand 14 percent higher than in January 2021."

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