The Forks Will Rise – record forklift sales at Ritchie Bros

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The Forks Will Rise – record forklift sales at Ritchie Bros

79,000 forklifts sold in 10 years

Above graph shows mix of forklift types sold in the US through Ritchie Bros. Approximately two-thirds of forklifts sold in US are combustion engine models (Source: RB Market Trends)

As online shopping grows and warehouses get bigger, the demand for forklifts increases. Many online retailers, like Amazon, Walmart, and Target are busier than ever and hiring tens of thousands of employees to help fulfill the record number of online orders seen today.

Over the past 10 years Ritchie Bros. has sold more than 79,000 forklifts in the United States and Canada. This year has been particularly busy, with $23 million of forklifts sold in just the first six months of the year, which is up 15% from January – June 2019. We’ve also seen median prices increase for forklifts in 2020, with internal combustion units up 33% and electric units up 66%.

“The forklift is a critical piece of equipment to help facilitate warehouse expediency and efficiency, as well as reducing overall labor costs,” said Don Nash, Territory Manager, Ritchie Bros. “Consumers have developed a new level of confidence in home/online shopping. We are seeing that trend in our equipment auctions as well.”

Top sellers at Ritchie Bros.

The Forks Will Rise – record forklift sales at Ritchie Bros

The Forks Will Rise – record forklift sales at Ritchie Bros

Toyota continues to be the top forklift brand at Ritchie Bros. auctions (Source: RB Market Trends)

With forklift sales at near record highs, we have built out a dedicated buying center. Top manufacturers include Toyota, Hyster, Caterpillar, and Mitsubishi, while the top units are all Toyota units: 8FGU25, 8FGCU25, 8FGCU20 and 7FGCU20.

“We have multiple solutions to meet the varied needs of our customers,” said Wade Whitenburg, Strategic Accounts Manager. “Whether you have one unit or a fleet of forklifts to sell, we can help. Online shopping isn’t showing any signs of slowing, so take advantage of strong demand now.”

Ritchie Bros. currently has more than 1,000 forklifts available in upcoming events. Visit rbauction.com and IronPlanet.com to learn more.

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