November Market Trends Report highlights
Our November Market Trends Report continues to show positive pricing trends across all our equipment indexes, with medium earthmoving equipment prices up 36% in the United States (30% in Canada), while truck tractors and vocational trucks are up 45% (23% in Canada) and 34% (27% in Canada) respectively (for the three months ending October 31, 2021).
With this month's report we dig into dirt moving equipment with a special feature on dozers, wheel loaders, and articulated dump trucks sold in the United States and Canada.
"Supply chain issues continue to disrupt the equipment market, resulting in volume declines and older assets with higher usage coming to market in 2021," said Doug Olive, SVP, Pricing. "This tightening supply combined with the unprecedented demand we are driving through our numerous marketplaces is resulting in strong pricing across nearly all asset categories, including dirt moving equipment like dozers, loaders, and articulated dump trucks."
According to Ritchie Bros. price indexes, wheel loader pricing is up 13% in the United States (9% in Canada), while dozer pricing is up 10%.
"We continue to observe strong used equipment prices, with retail values rising a further 2% in October," said Doug Rusch, Managing Director, Rouse Sales. "Coinciding with this rise we are also seeing a lingering slowdown in transaction volumes, as ongoing supply chain issues continue to drive cautious fleet management decisions. Retail values now stand 14% higher than in January 2021."
A closer look at dozers, loaders, and ADTs
When looking closer at dozer sales in the United States and Canada, we see the 2014 Caterpillar D6T is our most frequently sold year, make and model, at 77 units over the past 2 years. In Q3 2020 the median price for a 2014 Cat D6T was approximately $90,000. That same year and model sold in Q3 2021 has hit a median price of $137,300, which is 53% price increase in just one year.
Check out the following Market Trends charts below to learn more about dozer, loader, and articulated dump truck sales in 2021:
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