Ritchie Bros. released its August pricing trends report and Market Trends module, which indicated that prices for used heavy equipment, truck tractors, vocational trucks and lifting/material handling equipment in the U.S. and Canada all declined on a year-over-year basis.
“Used equipment values in general continue to be lower compared with the same time period last year for the U.S. and Canada; however, the rates of decline continue to moderate as they have over the past few months,” Ken Calhoon, vice president of data analytics at Ritchie Bros., said. “In addition to the latest price indices by industry, this month we dig deeper into 2020 excavator sales. In the first six months of 2020, we have sold 2,300+ excavators in the U.S. for US$134+ million.”
| August 2020 Market Trends Summary Highlights | ||
| Equipment Category | USA | Canada |
| Used heavy equipment | Prices declined ~2% (± 1.5%) year over year | Prices declined ~1% (± 1.5%) year over year |
| Truck tractors | Prices declined ~6% (± 1.5%) year over year | Prices declined ~3% (± 1.5%) year over year |
| Vocational trucks | Prices declined ~3% (± 1.5%) year over year | Prices declined ~1% (± 1.5%) year over year |
| Lifting/material handling | Prices declined ~4% (± 1.5%) year over year | Prices declined ~0% (± 1.5%) year over year |
“Used equipment experts, sellers, and buyers look to Ritchie Bros. transaction data as the industry gold standard,” Calhoon said. “While others may try to scrape and repackage our data, only we have the full dataset, the understanding and the ability to derive deep insights. Our team of data analysts and data scientists use machine learning and data visualization to create one of the best used equipment data products on the market.”
The Market Trends application is an independent part of the suite of services within Ritchie Bros. Asset Solutions, which is an asset management and disposition system. The module provides an analysis of transaction history, including market trends, equipment price performance, supply and demand geography, and mix-adjusted price indexes. The full Market Trends module is available by paid subscription.
