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Truck Tractor Prices Up 58% YOY in U.S., RitchieBros.

April 22, 2022, 07:27 AM
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Truck tractor prices up 58% YOY in the U.S. according to Ritchie Bros. April Market Trends Report

With its April Market Trends Report, Ritchie Bros. continues to show year-over-year price inflation for all major equipment categories. This month's report includes an in depth look at Q1 (Jan – Mar) sales, broken out by manufacturer.

A quick look at U.S. construction categories and its clear Ritchie Bros. sells more Caterpillar equipment than any other brand. In fact, when looking at excavator sales in the U.S., the company sold three times more Cat units (370+) than the next manufacturer, John Deere (130+). The April report also digs into sales of dozers, wheel loaders, articulated dump trucks, loader backhoes, multi-terrain loaders, skid steers, telehandlers, boom lifts, scissor lifts, and truck tractors.

Download the report here

"We continue to drive record-breaking demand across our various online auctions and marketplaces, including our largest-ever Montreal auction in March, huge Regional Auction Events, our weekly IronPlanet sales, Marketplace-E events, and Ritchie List," said Doug Olive, Senior Vice President, Pricing, Ritchie Bros. "Regardless of sales channel, pricing has been strong throughout the first quarter of 2022, with truck tractor prices leading the way, up 58% in the United States and 50% in Canada. Overall, all our price indexes are showing year over year price inflation, which means it's a great time to sell."

Doug Rusch, Managing Director of Rouse Sales, added, "We continue to see tight supply and strong end-user demand for equipment across retail and auction markets. Retail values continue to rise month over month, increasing another 2% in March, making that an increase of 24% over the past 16 months. Auction values were also up 2% last month, building on the significant 5% increase we saw in February."

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