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Truck tractor prices up 30 per cent year over year at Ritchie Bros

July 14, 2021   Maryam Farag

Photo: Ritchie Bros.

According to Ritchie Bros, truck tractor prices in the U.S. are up 30 per cent year over, while medium earthmoving and vocational truck prices are each up 25 per cent.

With the July 2021 Market Trends Report, Ritchie Bros. takes a closer look at tandem-axle truck tractor sales (four-to-seven-year-old models) in Canada and the U.S. In the U.S., the company is seeing a particularly hot market for six-year-old trucks (2015 models) right now, while four-year-old models (2017 models) appear to be in strongest demand in Canada.

One of the most popular make/models in both countries is the Freightliner Cascadia. Even though 2014 – 2017 truck models were a year older and had higher usage, the median price for Cascadias was over 45 per cent higher in the first half of 2021 vs. 2020.

“Online shopping continues to drive an extremely hot transportation market right now, with record high truck prices,” said Doug Olive, Senior Vice-President, Ritchie Bros. “But it’s not just transportation. We are seeing pricing strength across the board as this seller’s market continues.”

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