Used truck prices up 31% in Q2: Ritchie Bros.

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The worth of used tractors offered via Ritchie Bros. auctions continued to push greater within the second quarter of the yr, reaching ranges 31% above the identical timeframe final yr.

Vocational vehicles noticed will increase of their very own, priced 14% above these within the second quarter of 2021.

The outcomes emerged within the auctioneer’s July 2022 Market Traits Report.

Ritchie Bros.
(File photograph: Ritchie Bros.)

Within the U.S., used truck tractor costs rose 39% within the second quarter of 2022, in comparison with the identical timeframe in 2021, whereas vocational truck costs had been up 25%.

“There may be nonetheless ongoing worth inflation in U.S. and in Canada. In each international locations the best inflation stays in transportation [in U.S.: 40%, in Canada: 32%] and in truck tractors [in U.S.: 39%, in Canada: 31%],” the report stated.

However the worth inflation in Canada is starting to gradual for all tools classes apart from agricultural tractors. Vocational vehicles noticed the most important slowdown in such charges, dropping to 14% in June in comparison with 19% in Could.

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