Vocational truck prices up 30 percent year over year at Ritchie Bros.
July Market Trends report showcases a seller's market with strong returns across all price indexes
Through the first half of 2021, Ritchie Bros. has driven unprecedented demand through its online auctions and marketplaces and achieved strong prices for its consignors. In fact, truck tractor prices in the United States are up 30 percent year over, while medium earthmoving and vocational truck prices are each up 25 percent.
With the July 2021 Market Trends Report, Ritchie Bros. takes a closer look at tandem-axle truck tractor sales (4 to 7-year old models) in Canada and the United States. In the U.S., the company is seeing a particularly hot market for 6-year-old trucks (2015 models) right now, while four-year-old models (2017 models) appear to be in the 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 more than 45 percent higher in the first half of 2021 vs. 2020.
With prices up, Ritchie Bros. is diving into the data with industry experts to discuss what is driving this transportation market in 2021. On July 27, at 12 p.m. Pacific (3 p.m. Eastern) Ritchie Bros. will host an Inside Edge industry panel about the transportation industry, covering OEM production delays, auction volumes & pricing, spot rate impact, driver shortages, and more.
"Our Inside Edge Live Industry Panels are a great way for Ritchie Bros. to connect with customers and industry associations to share expertise and data to help us all better understand the diverse issues and factors impacting the industries we operate in every day," said Matt Ackley, Chief Marketing Officer and host of Ritchie Bros.' Inside Edge Panels. "For our July 27th transportation panel, we have some great guests joining our discussion, including Steve Tam, Vice President of ACT Research; Stacey Jenkins, President of the Toronto Transportation Association; and Julien Bigras, Managing Director of Core Capital Inc."