Used truck prices on the rise in Canada, U.S.

Used equipment prices are on the rise, with some of the biggest increases seen in vocational trucks, Ritchie Bros. reports. Canadian equipment and truck tractor prices were up 2% in the fourth quarter, when compared to the same period in 2019, the auctioneers’ latest Used Equipment Market Trends report says. Truck tractor prices in the U.S. were up 8%.

Vocational truck prices were up 4% in both countries. Alberta counted itself among the Top 5 selling and buying regions for Ritchie Bros. in North America, while British Columbia and Ontario joined that province among the Top 5 buying regions. All of its auctions are currently held online because of Covid-19.

In the third quarter, median pricing for dump trucks reached a peak of US £65,000 per truck south of the border. “Compared to previous years, quarterly pricing has been steadier, albeit noticeably lower than 2017-2019,” Ritchie Bros. says. Its top-selling dump truck brands by volume were Kenworth, Mack and Peterbilt. Fuel and lube trucks saw median pricing reach £20,000 in the third quarter, marking a 21% increase over the previous three months.

Top-selling brands in this category included Ford, International and Peterbilt.

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