Canadian used truck prices on the rise: Ritchie Bros.

by Today's Trucking

Canadian equipment prices are on the rise, but the increases are still lower than those seen in the U.S., according to the latest Used Equipment Market Trends report from Ritchie Bros.

Canada’s used truck tractor prices were up 5% for the three months ending in February, when compared to the same period last year, the auction house observes. Prices for used vocational trucks rose slightly higher, marking an increase of 6%.

(File photo: Ritchie Bros.)

But in the U.S., the truck tractor prices were up 15%, and vocational truck prices were up 10%.

“In 2020 Ritchie Bros. sold 18% more truck tractors than 2019 and median quarterly pricing was up in Q2 through Q4, with no signs of slowing demand,” senior vice-president – pricing Doug Olive says in a related market review.

“In December 2020, watchlists for truck tractors in upcoming events was three times that of December 2019. Ritchie Bros. also saw record volume and pricing for flatbed trucks, van trucks, and van trailers – all of which are tied to the ‘last mile transport’ trend which grew exponentially last year.”

In the U.S., the auctioneer dropped the gavel on 17,800 assets in 2020 compared to 15,000 sold to the highest bidders in 2019.

Used heavy equipment prices were up 4% in Canada compared to the three months that ended in February 2020. The prices for used lift and material handling equipment rose by the same percentage.

In the U.S., heavy equipment prices were up 5%, while lift and material handling equipment was up 9%.

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