Loader backhoe prices up 15% in the U.S. according to Ritchie Bros. December Market Trends Report

All indexes showing year over year inflation, including truck tractor pricing up 55% in the U.S.

VANCOUVER, BC, Dec. 20, 2021 /CNW/ - Ritchie Bros.' December Market Trends Report continues to show positive pricing trends across all its equipment indexes, with truck tractor prices up 55% in the United States, while medium earthmoving equipment and vocational trucks are up 43% and 41% respectively (for the three months ending November 30, 2021).   

With this month's report, Ritchie Bros. has included a special focus on loader backhoe sales in the United States and Canada. According to Ritchie Bros.' Market Trends tool, median backhoe pricing is up approximately 15% in the United States. The free December report is available for download at: rbassetsolutions.com/market-trends-report.

"Loader backhoe volumes have declined while demand has strengthened, resulting in strong pricing for the incredibly versatile machine," said Doug Olive, Senior Vice President (Pricing), Ritchie Bros. "In 2016 we sold close to 3,000 backhoes in the United States. Through 11 months in 2021 we've only sold 1,815, but the median price has increased 15%."

Doug Rusch, Managing Director of Rouse Sales, added, "Retail values continue to climb, having increased more than 16% since the beginning of 2021, reflecting a strong pricing environment for sellers. Transaction volumes in the retail space are also healthy and auction values have increased 3.2% in November. All signs point to strong end-market demand for machines right now."

Used Commercial Assets - Pricing Highlights Price change (±1.5%) year-over-year for the 3 months ending November 30, 2021
Categories	USA		CANADA
Large Earthmoving	Increased ~	14%	Increased ~	11%
Medium Earthmoving	Increased ~	43%	Increased ~	32%
Aerial	Increased ~	37%	Increased ~	25%
Truck Tractors	Increased ~	55%	Increased ~	27%
Vocational Trucks	Increased ~	41%	Increased ~	32%

  Source: Ritchie Bros. transactional data

Ritchie Bros.' Market Trends application is an independent part of Ritchie Bros. Asset Solutions (rbassetsolutions.com), a cloud-based asset management and disposition system with a suite of tools and services to help customers better manage, analyze, and sell their assets. For more information about Market Trends, please email [email protected].

About Ritchie Bros.:

Established in 1958, Ritchie Bros. (NYSE andTSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace with weekly featured auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Ritchie List, a self-serve listing service for North America; Mascus, a leading European online equipment listing service; Ritchie Bros. Private Treaty, offering privately negotiated sales; and sector-specific solutions GovPlanet, TruckPlanet, and Kruse Energy. The Company's suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system; SmartEquip, an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media. 

 

SOURCE Ritchie Bros.

Ian Malinski, Media Relations Manager, +1.778.331.5432, [email protected]; For investor inquiries, please contact: Sameer Rathod, Vice President, Investor Relations & Market Intelligence, +1.510.381.7584, [email protected]