Ritchie Bros.' latest Market Trends Summary digs into excava

|Aug 11|magazine10 min read

During the first half of 2020, Ritchie Bros. sold 2,300 excavators in the US for US$134+ million

VANCOUVER, BC, Aug. 11, 2020 /PRNewswire/ - With billions of dollars of equipment transacting via multiple sales channels each year, Ritchie Bros. has the data and in-house expertise to provide unmatched insight into industry trends. The company is now sharing this insight 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, including market trends, equipment price performance, supply and demand geography, and mix-adjusted price indexes.

Each month, Ritchie Bros. publishes a free, high-level, downloadable report of these pricing trends, broken out by industry. The August report is now available for download here: ritchiebros.com/market-trends-report. The full Market Trends module is available by paid subscription.

"Used equipment values in general continue to be lower compared with the same time period last year for the US and Canada, however, the rates of decline continue to moderate as they have over the past few months," said Ken Calhoon, Vice President, Data Analytics, Ritchie Bros. "In addition to the latest price indices by industry, this month we dig deeper into 2020 excavator sales. In the first six months of 2020, we have sold 2,300+ excavators in the US for US$134+ million."

August 2020 Market Trends Summary Highlights

Equipment Category

USA

Canada

Used heavy equipment

Prices declined ~2% (± 1.5%) year over year

Prices declined ~1% (± 1.5%) year over year

Truck tractors

Prices declined ~6% (± 1.5%) year over year

Prices declined ~3% (± 1.5%) year over year

Vocational trucks

Prices declined ~3% (± 1.5%) year over year

Prices declined ~1% (± 1.5%) year over year

Lifting/material handling

Prices declined ~4% (± 1.5%) year over year

Prices declined ~0% (± 1.5%) year over year

"Used equipment experts, sellers, and buyers look to Ritchie Bros. transaction data as the industry gold standard," continued Mr. Calhoon "While others may try to scrape and repackage our data, only we have the full dataset, the understanding, and the ability to derive deep insights. 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 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.