Truck tractor prices up 58% YOY in the U.S. according to Ritchie Bros. April Market Trends Report

Canada NewsWire

Vocational trucks, medium earthmoving, and aerial equipment also bringing big returns in 2022

VANCOUVER, BC , April 21, 2022 /CNW/ - 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. Visit rbassetsolutions.com/market-trends-report to download the April report today.

"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."

Source: Ritchie Bros . transactional data.

Established in 1958, Ritchie Bros . (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, mining, and forestry, the company's selling channels include: Ritchie Bros . Auctioneers , the world's largest industrial auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace with weekly featured auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E , a controlled marketplace offering multiple price and timing options; Ritchie List , a self-serve listing service for North America ; Mascus , a leading European online equipment listing service; Ritchie Bros . Private Treaty , offering privately negotiated sales; and sector-specific solutions GovPlanet , TruckPlanet, and Kruse Energy . The Company's suite of solutions also includes Ritchie Bros . Asset Solutions and Rouse Services LLC , which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system; SmartEquip , an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; plus equipment financing and leasing through Ritchie Bros . Financial Services. For more information about Ritchie Bros ., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media .

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SOURCE Ritchie Bros .

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