Ritchie Bros. continues to report tight transaction volumes, with 27% fewer deals in July 2022 than July 2021, and that continues to drive retail prices higher.
“July pricing increased 2% versus the prior month, in line with the rate of increase we’ve observed for most of 2022,” the auctioneer says in its August Market Trends Report.
Prices of used truck tractors in Canada were up an estimated 25% for the three months ending in July, compared to the same time frame last year, Ritchie Bros. says. Used vocational trucks saw prices increase 10%.
In the U.S., used truck tractors saw prices increase 27% during the three months ending in July, when compared to the same period last year. Used vocational trucks commanded 18% increases.