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Truck Tractor Prices Up According to Ritchie Bros. April Market Trends Report

Mon April 25, 2022 - National Edition
Ritchie Bros. Auctioneers

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 to 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 United States, the company sold three times more Cat units (370-plus) than the next manufacturer, John Deere (130-plus).

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.

"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 percent in the United States and 50 percent 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 percent in March, making that an increase of 24 percent over the past 16 months. Auction values were also up 2 percent last month, building on the significant 5 percent increase we saw in February."

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