Canadian Used Truck Prices Soar 50%

Canada’s used truck tractors are commanding values 50% higher than those paid a year ago, according to Ritchie Bros.

Prices in the U.S. were up 58% year over year, and pricing was strong regardless of the manufacturer, reports Today’s Trucking.

“We continue to see tight supply and strong end-user demand for equipment across retail and auction markets. Retail values continue to rise month over month, increasing another 2% in March, making that an increase of 24% over the past 16 months,” said Doug Rusch, managing director – Rouse Sales, in Ritchie Bros’ April Market Trends report for North America.

“Auction values were also up 2% last month, building on the significant 5% increase we saw in February.”

Canada’s used vocational trucks, meanwhile, saw prices increase 30% when comparing the two timeframes.

 The increases are not limited to on-road equipment, either.

Large earthmoving equipment saw prices rise 11% on this side of the border, while used medium earthmoving equipment prices were up 31%.

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