Auction prices for tandem-axle heavy trucks have risen 30 percent in the second quarter compared to the same period in 2020, according to a new market trends report from Ritchie Bros. Prices for vocational trucks are up 25 percent.
The largest percentage increase in the second quarter compared to the first quarter of 2021 is for model year 2015 trucks, with average auction prices up 16 percent. Ritchie’s top selling models for the quarter are the Freightliner Cascadia, International ProStar, and Peterbilt 579.
Ritchie Bros. says it validates its used pricing indexes by correlating them against industry metrics such as sales or orders. Above, the company plotted its heavy truck index (orange) against the U.S. Heavy Duty Truck Sales index (blue). The correlation between the two is clear, with the price index leading the sales index, Ritchie says.
