VANCOUVER, B.C./CNW/ - Ritchie Bros.' November Market Trends Report continues to show positive pricing trends across all its equipment indexes, with medium earthmoving equipment prices up 36% in the United States, while truck tractors and vocational trucks are up 45% and 34% respectively (for the three months ending October 31, 2021).
With this month's report, Ritchie Bros. has included a special focus on earthmoving equipment sales in the United States and Canada. According to Ritchie Bros. price indexes, wheel loader pricing is up 13% in the United States, while dozer pricing is up 10%. The free November report is available for download at: rbassetsolutions.com/market-trends-report.
"Supply chain issues continue to disrupt the equipment market, resulting in volume declines and older assets with higher usage coming to market in 2021," said Doug Olive, Senior Vice President (Pricing), Ritchie Bros. "This tightening supply combined with the unprecedented demand we are driving through our numerous marketplaces is resulting in strong pricing across nearly all asset categories, including dirt moving equipment like dozers, loaders, and articulated dump trucks."
Doug Rusch, Managing Director of Rouse Sales, added, "We continue to observe strong used equipment prices, with retail values rising a further 2% in October. Coinciding with this rise we are also seeing a lingering slowdown in transaction volumes, as ongoing supply chain issues continue to drive cautious fleet management decisions. Retail values now stand 14% higher than in January 2021."
Ritchie Bros.' Market Trends application is an independent part of Ritchie Bros. Asset Solutions (rbassetsolutions.com), a cloud-based asset management and disposition system with a suite of tools and services to help customers better manage, analyze, and sell their assets. For more information about Market Trends, please email [email protected].About Ritchie Bros.: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 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. FinancialServices. For more information about Ritchie Bros., visit RitchieBros.com.