Skid Steer Prices Up 30% in the U.S. According to Ritchie Bros. August Market Trends Report

This month’s report includes commentary from Rouse Services on the used retail market VANCOUVER, B.C. (August 18, 2021) – Ritchie Bros.’ August Market Trends Report continues to show positive pricing trends across all its equipment indexes, with truck tractor prices up 31% in the U.S., while medium earthmoving and vocational trucks are up 27% and 26% respectively (for the three months ending July 31, 2021). With this month’s report, Ritchie Bros. takes a closer look at skid steer and multi terrain loader sales in the United States and Canada. Over the past decade the company has seen multi terrain loader sales grow exponentially in comparison to its wheeled counterpart. In 2010 Ritchie Bros. sold roughly five times more skid steers (3,037 units) in the U.S. than multi terrain loaders (624 units). By 2020 that ratio had changed drastically, as the company sold approximately 2.5 times more multi terrain loaders (3,484) than skid steers (1,310). Interestingly, in Canada, while multi terrain loader sales have certainly grown, skid steer loaders have maintained their lead in terms of number of units sold. “We continue to drive unprecedented demand in 2021, resulting in pricing strength across all our indexes in this month’s report,” said Doug Olive, Senior Vice President (Pricing), Ritchie Bros. “Medium earthmoving equipment like skid steer loaders and multi terrain loaders are performing particularly well this year. According to our recent skid steer index, prices for the small but versatile machines are up 30% in Canada and 27% in the United States.” READ FULL ARTICLE >>