Ritchie Bros.' Latest Market Trends Summary Includes Truck Tractor, Material Handling Markets
Ritchie Bros. is now sharing its data and in-house expertise via its Market Trends module within its Ritchie Bros. Asset Solutions suite of tools, allowing customers, investors, and analysts to better understand the strength of an asset class through in-depth analysis of Ritchie Bros. transaction history. The data includes market trends, equipment price performance, asset valuation curves, and mix-adjusted price indexes.
Each month, Ritchie Bros. publishes a free, high-level, downloadable report of pricing trends, broken out by industry. The July report is now available for download here: ritchiebros.com/market-trends-report. The full Market Trends module is available by paid subscription.
"Similar to last month's report, while prices across the major sectors are lower than a year ago, the rate of decline has continued to moderate through the high-volume June time period," said Ken Calhoon, vice president, Data Analytics, Ritchie Bros. "Both the U.S. and Canada are showing stability across key equipment categories, and Texas, California, and Alberta continue to be the top-three North American markets in terms of buyer participation."
July 2020 Market Trends Summary Highlights (based on data from April – June 2020)
Used heavy equipment:
U.S.: Prices declined ~3% (± 1.5%) year over year
Canada: Prices declined ~1% (± 1.5%) year over year
Truck tractors:
U.S.: Prices declined ~8% (± 1.5%) year over year
Canada: Prices declined ~5% (± 1.5%) year over year
Vocational trucks:
U.S.: Prices declined ~4% (± 1.5%) year over year
Canada: Prices declined ~2% (± 1.5%) year over year
Lifting/material handling:
U.S.: Prices declined ~6% (± 1.5%) year over year
Canada: Prices declined ~1% (± 1.5%) year over year
"Used equipment experts, sellers, and buyers look to Ritchie Bros. transaction data as the industry gold standard," said Calhoon. "Our team of data analysts and data scientists use machine learning and data visualization to create one of the best used equipment data products on the market."
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 [email protected].
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.