U.S. truck tractor prices up 30% in July Market Trends Report

Auction Results Comments

Seller’s market continues with pricing strength across all indexes

Seller’s market continues with pricing strength across all indexes

Through the first half of 2021, Ritchie Bros. auctions and marketplaces have driven unprecedented demand, breaking multiple company records and bringing strong returns for consignors. Online shopping has hit record highs this year, driving new upstarts in the transportation sector and record-high truck tractor prices—up 30% in the United States and 14% in Canada.

Our July 2021 Market Trends Report is showing similar trends with respect to vocational trucks, medium earthmoving, and aerial equipment this year, likely tied to infrastructure work, home improvements, and online shopping. In the United States, vocational trucks and medium earthmoving equipment prices are up 25% year over year, while aerial equipment is up 20%. In Canada, medium earthmoving is up 28%, while vocational truck and aerial equipment prices increased 21% and 17% respectively.

Interestingly, when comparing June 2021 price indexes to May 2021, we see that while price inflation continues across our U.S. indexes, it appears to be tapering off in Canada. We will be paying close attention to this in the coming weeks and months to see if the tapering continues.

Used Commercial Assets - Pricing Highlights

Price change (±1.5%) year-over-year for the 3 months ending June 30, 2021

Categories USA Canada

Large Earthmoving


   Increased ~ 8%


   Increased ~ 9%


Medium Earthmoving


   Increased ~ 25%


   Increased ~ 28%


Aerial


   Increased ~ 20%


   Increased ~ 17%


Truck Tractors


   Increased ~ 30%


   Increased ~ 14%


Vocational Trucks


   Increased ~ 25%


   Increased ~ 21%

 

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Strong truck prices at Ritchie Bros.

In our July 2021 Market Trends Report we also take a closer look at tandem-axle truck tractor sales (4 to 7-year old models) in Canada and the United States.

In the U.S. we are seeing a particularly hot market for six-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 and even though 2014-2017 truck models were a year older and had higher usage, median price was up more than 45% in 2021 vs. 2020.

Check out the charts below or download the full report to learn more!

US truck tractor sales

Freightliner sales at Ritchie Bros.

Canada truck tractor sales

Freightliner sales at Ritchie Bros.

Van trailer sales

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