Tight supply + strong demand = record-breaking prices
Used equipment and truck prices reached unprecedented levels in 2021. With our January Market Trends Report, we look closely at earthmoving and aerial equipment sales last year, with in-depth charts outlining volumes, median pricing, and more by asset category.
For example, did you know that we sold 4,200+ boom lifts in the United States in 2021, which is down 33% from 2020? Or that price the median price per unit was approximately $12,000, which is up 20% year over year (for the three months ending Dec. 31, 2021)?
"We attracted a record number of bidders in 2021, resulting in the strongest equipment pricing we have ever seen," said Doug Olive, Senior Vice President (Pricing), Ritchie Bros.
"Truck tractor pricing over the past three months is up 65% year over year in the United States, while medium earthmoving, vocational trucks, and aerial equipment prices are up 45%, 44%, and 41% respectively. It's a seller's market and consignors around the world are taking advantage by turning their surplus assets into cash."
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Supply chain issues, tight supply, and unprecedented demand all played major factors in used equipment sales last year. In the United States volumes were down in large and medium earthmoving categories, as well as aerial equipment, while prices rose significantly.
For example, in Canada we sold approximately 17% fewer telehandlers in 2021 vs. 2020, while the median price increased 12%, even though units sold were on average 3 years older with higher usage than units sold in 2020.
Check out the following Market Trends charts for U.S. and Canadian sales of telehandlers, boom lifts, scissor lifts, and forklifts. And don't forget to subscribe for the Market Trends Report to get the monthly report sent straight to your inbox!
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