Truck Tractor Prices up 30% Year Over Year at Ritchie Bros.

Tue July 13, 2021
Ritchie Bros.

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 United States, 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 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.

"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."

The free July report is now available for download at rbassetsolutions.com/market-trends-report.

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