August Market Trends shows skid steer prices up 30%

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Ritchie Bros. Market Trends

Multi terrain loaders vs. skid steer loaders

Ritchie Bros.’ August Market Trends Report continues to show positive pricing trends across all our 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, we take a closer look at skid steer and multi terrain loader sales in the United States and Canada. Over the past decade we have seen multi terrain loader sales grow exponentially in comparison to its wheeled counterpart. In 2010 we 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 we 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, as you will see from the picture below.

Multi terrain loader vs. skid steer loader sales

“Medium earthmoving equipment like skid steer loaders and multi terrain loaders are performing particularly well this year,” said Doug Olive, our Senior Vice President (Pricing).  “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.”

Check out the following chart to see how different equipment categories are currently performing.

Used Commercial Assets - Pricing Highlights

Price change (±1.5%) year-over-year for the 3 months ending July 31, 2021

Categories USA Canada

Large Earthmoving


Increased ~ 8%


Increased ~ 9%


Medium Earthmoving


Increased ~ 27%


Increased ~ 29%


Skid Steer Loaders

Increased ~ 27%

Increased ~ 30%


Aerial


Increased ~ 22%


Increased ~ 17%


Truck Tractors


Increased ~ 31%


Increased ~ 14%


Vocational Trucks


Increased ~ 26%


Increased ~ 21%

Skid steer and multi-terrain loader sales in US & Canada

Last month we saw great pricing for skid steers and multi terrain loaders. In the United States, July multi terrain loader median prices were up 11% year over year—with 61% less units sold—while steer prices are up 13%, with 60% less units. In Canada multi terrain loader prices were up 16% in July. Check out the pictures/charts below to dig deeper into the data.

Multi terrain loader sales in the US

Skid steer loader sales in the US

Multi terrain loader sales in Canada

Skid steer loader sales in Canada

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