With its March Market Trends Report, Ritchie Bros. takes an in depth look at equipment and truck sales from the company's recent six-day, US$213+ million auction in Orlando, Florida, finding that truck tractor pricing was up 63 percent in the U.S., and vocational trucks and medium earthmovers were up 45 percent and 42 percent, respectively.
The report can be accessed here.
"We once again set a new bidder record in Orlando—attracting 26,000+ online and onsite bidders, helping us drive strong pricing across nearly every asset category in the six-day premier global auction," said Doug Olive, SVP (Pricing), Ritchie Bros. "In particular, we achieved outstanding returns for articulated dump trucks, multiterrain loaders, boom lifts, and truck tractors. For the past three months, truck tractor pricing has led the way—up 63 percent in the United States—while vocational truck and medium earthmoving prices are up 45 percent and 42 percent respectively."
Doug Rusch, managing director of Rouse Sales, added, "Tight supply conditions and strong end-user demand continue to drive increasing used equipment values. Retail values rose 2 percent in February and have increased 22 percent over the past 15 months. Auction values also continue to rise—up 5 percent in February, which is the largest one month increase we've seen during the pandemic—driven primarily by strong pricing at the recent Ritchie Bros. Orlando event."
Source: Ritchie Bros.
