Used equipment and truck prices reached unprecedented levels in 2021, according to auction giant Ritchie Bros.
The company’s January Market Trends Report looks closely at aerial and earthmoving equipment sales from last year, with in-depth charts outlining volumes, median pricing, and more, by asset category.
Among other things, the report shows that for the last three months of 2021, prices for used aerial equipment went up 41% in the U.S. and 26% in Canada.
In another example from the report, Ritchie Bros. sold 3,888 excavators in the United States last year at a median price of about $57,500. That’s up 15% year over year for the three months ending December 31, 2022.
The 46-page report highlights sales of telehandlers, boom lifts, scissor lifts, and forklifts, along with excavators, dozers, wheel loaders, motor graders, articulated dump trucks, loader backhoes, and multi-terrain and skid steer loaders.
Download the free report at rbassetsolutions.com/market-trends-report.
"We attracted a record number of bidders in 2021, resulting in the strongest equipment pricing we have ever seen," said Doug Olive, Ritchie Bros.’ senior vice president of pricing. "Truck tractor pricing over the past three months is up 65%, year over year, in the United States, while medium earthmoving, vocational trucks, and aerial equipment prices are up 45%, 44%, and 41% respectively. It's a seller's market, and consignors around the world are taking advantage by turning their surplus assets into cash."
Doug Rusch, managing director of Rouse Sales, added, "In 2021 retail pricing for earthmoving and aerial equipment reached its highest level in years. Strong pricing coincided with healthy sales volumes, with retail volume down just slightly vs. prior year. Auction prices also reached record high levels, increasing more rapidly than the retail market, as is often typical in high-demand environments."
Inside Edge Panels Come Back Feb. 4
Ritchie Bros.' Inside Edge industry panels are back on Feb. 4, 2022. Together with leading industry experts Chris Sleight (managing director of Off-Highway Research); Carl Gustaf Göransson (corporate senior advisor and former CNH Industrial executive); and Doug Rusch (managing director of sales at Rouse Services), Ritchie Bros. will look back at 2021 and ahead to 2022, digging deep into the data and big industry trends around the world.
Register at https://bit.ly/3fy28ME.
Lift & Access is part of the Catalyst Communications Network publication family.
