Average auction prices increased 1 percent compared to the first quarter of 2013, according to the just released EquipmentWatch Quarterly Reports. Caterpillar, the top brand by volume, increased market share by 3 percent in the auction market, the report said. Demand for 4-WD articulated wheel loaders more than doubled in Central Canada, the report added.
In the private resale market, average retail prices increased 1 percent compared to the fourth quarter of 2013. The reports indicate that Komatsu took market share from Deere, the No. 2 brand by volume. Prices for crawler-mounted hydraulic excavators increased 3 percent compared to the fourth quarter of 2013.
“As the heavy equipment market starts to rebound, we continue to see a tightening of volume that is driving prices higher,” Garrett Schemmel, managing director of EquipmentWatch told RER. “In both the auction and private markets we have seen prices inch up at 1 percent or more. We are anxious to see if this trend continues into the next quarter.”
The reports track trending in the heavy equipment auction and resale markets from Jan. 1 to March 31, 2014 and all 18 reports are available for free download. Click here: http://www2.equipmentwatch.com/report-library-gateway?elq=19017d04280345159154fc194707995c&elqCampaignId=112