Wheel loader prices up 13 per cent in the U.S., says Ritchie Bros.
Maryam Farag
Economy Manufacturing Business Canada Economy equipment manufacturer manufacturing prices Report Trends US
Ritchie Bros.’ November Market Trends Report continues to show positive pricing trends across all its equipment indexes, with medium earthmoving equipment prices up 36 per cent in the U.S., while truck tractors and vocational trucks are up 45 and 34 per cent (for the three months ending October 31).
With this month’s report, Ritchie Bros. has included a special focus on earthmoving equipment sales in the U.S. and Canada. According to Ritchie Bros. price indexes, wheel loader pricing is up 13 per cent in the U.S., while dozer pricing is up 10 per cent.
“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.”
“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 per cent higher than in January 2021.” said Doug Rusch, Managing Director, Rouse Sales.
