Vocational truck prices up 35 percent in the U.S. according to Ritchie Bros. report
Ritchie Bros.' October Market Trends Report continues to show positive pricing trends across all its equipment indexes, with vocational truck prices up 35 percent in the United States, while truck tractors and medium earthmoving are up 46 percent and 38 percent respectively (for the three months ending September 30, 2021).
With October's report, Ritchie Bros. has included a special focus on vocational trucks sold in the United States and Canada. When looking specifically at mixer trucks, mechanics trucks, and flatbed trucks sold in the U.S., older units are selling for more money as many companies are holding on to equipment and trucks longer due to the uncertainty in the supply chain for new assets.
In Q3 2021 alone, the median price for mechanics trucks in the U.S. is up 54 percent year over year and up 69 percent in Canada.
Doug Rusch, Managing Director of Rouse Sales, added, "Used equipment is transacting at the highest price levels we've seen in five years at Rouse. In fact, the rise in retail values is accelerating, with values in August and September increasing at a more significantly rapid rate than the first half of 2021. Coinciding with the rise in retail values, which climbed an additional 3 percent in September, we have seen a moderate decline in used equipment sales volumes, as used supply remains tight across the industry and fleet owners carefully manage available inventory."