Used truck tractor prices up 17% over three months

Ritchie Bros. is reporting a 17% increase in the prices for Canadian used truck tractors during the three months ending in September, compared to the same time frame last year.

While prices of used vocational trucks also rose during the same time period, they were up 6%.

“There is still ongoing price inflation in U.S. and in Canada,” it noted in its latest Market Trends report.

In Canada, the highest inflation levels were reported in agricultural tractors (+19%), the truck tractors, and transportation (+17%), according to indices compiled by the auctioneer. In the U.S., 7% increases were recorded in transportation, truck tractors and forklifts.

But the inflationary pressures appear to be easing.

“In the U.S. we see the price inflation rate slowing down for all categories,” it concluded, noting truck tractors were up 7% this month but 18% last month. In Canada, single-digit inflationary drops were recorded in agricultural equipment.

Ritchie Bros. auction
(File photo: CNW Group/Ritchie Bros.)

Have your say

This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.