Pricing for excavators has held steady in 2020—with median
prices of $50,000 in Q1 and
$47,000 in Q3
VANCOUVER, BC, Dec. 7, 2020 /PRNewswire/ - When COVID-19
lockdowns started in North America
in mid-March, most construction work kept going, and so did Ritchie
Bros. The company has seen record demand in 2020 and its latest
Market Trends Summary Report, which digs deep into industry pricing
trends, discusses one of Ritchie Bros. most popular equipment
categories: excavators.
"In a year of volatility, excavator pricing has remained
relatively stable," said Doug Olive,
Senior Vice President, Pricing, for Ritchie Bros. "The excavator's
cross-industry applications help mitigate massive price
fluctuations. We also believe that the uptick in housing starts
throughout the United States has
had a positive impact on excavator pricing in 2020."
In the last three years (Jan. 2017
– Sep. 2020) Ritchie Bros. has sold
more than 15,000 excavators in the United
States alone, for more than $850
million. The top selling brands by volume are Caterpillar,
Komatsu, and John Deere, with the top models sold all being
Caterpillar: 336EL, 320EL and 320CL. On average, approximately 27%
of all excavators sold in the United
States during this time frame were sold to local state
buyers, while 57% was sold to out of state U.S. buyers, and 16%
sold to international buyers.
To learn more about excavator sales at Ritchie Bros., download
the December version of the Ritchie Bros. Used Equipment Market
Trends Summary at rbassetsolutions.com/market-trends-report. The
December report also includes mix adjusted used pricing indices,
including an updated comparison chart for the U.S. Ritchie Bros.
Heavy Truck Price Index and U.S. Heavy Duty Truck shipments, plus a
feature section on small construction highlights.
|
Used Commercial
Assets – December 2020 Summary Highlights
|
|
Equipment
Category
|
USA
|
Canada
|
|
Used heavy
equipment
|
Prices steady (±
1.5%) year over year
|
Prices increased 1%
(± 1.5%) year over year
|
|
Truck
tractors
|
Prices increased 7%
(± 1.5%) year over year
|
Prices steady (±
1.5%) year over year
|
|
Vocational
trucks
|
Prices increased 3%
(± 1.5%) year over year
|
Prices steady (±
1.5%) year over year
|
|
Lifting/material
handling
|
Prices steady (±
1.5%) year over year
|
Prices increased ~2%
(± 1.5%) year over year
|
The Market Trends application is an independent part of the
suite of services within Ritchie Bros. Asset
Solutions (rbassetsolutions.com), which is a complete
end-to-end asset management and disposition system. This
cloud-based SaaS solution brings together a suite of tools and
services to help customers better manage, analyze, and sell their
assets. From any internet-enabled device, customers are able to
access a complete inventory management system, data analytics and
dashboards, branded e-commerce sites, and multiple external sales
channels.
For more information about Market Trends, please email
dataproducts@ritchiebros.com.
About Ritchie Bros.:
Established in 1958, Ritchie
Bros. (NYSE and TSX: 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, oil and gas, mining, and
forestry, the company's selling channels include: Ritchie
Bros. Auctioneers, the world's largest industrial auctioneer
offers live auction events with online bidding; IronPlanet, an
online marketplace with featured weekly auctions and providing the
exclusive IronClad Assurance® equipment condition
certification; Marketplace-E, a controlled marketplace offering
multiple price and timing options; Mascus, a leading
European online equipment listing service; and Ritchie Bros.
Private Treaty, offering privately negotiated sales. The company's
suite of multichannel sales solutions also includes Ritchie Bros.
Asset Solutions, a complete end-to-end asset management and
disposition system. Ritchie Bros. also offers sector-specific
solutions including GovPlanet, TruckPlanet, and Kruse
Energy, 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.
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SOURCE Ritchie Bros.