Ritchie Bros. Says Skid Steer Prices Are Up 30% in the U.S.

Ritchie Bros.' August Market Trends Report continues to show growing prices 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.

Over the past decade Ritchie Bros. has seen multi terrain loader sales grow exponentially in comparison to its wheeled counterpart. In 2010 Ritchie 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.

"Medium earthmoving equipment like skid steer loaders and multi terrain loaders are performing particularly well this year," said Doug Olive, senior vice president for pricing at Ritchie Bros. “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."

Doug Rusch, managing director of Rouse Sales, added, "The retail market for used compact-sized earthmoving equipment, including skid steer loaders, has shown impressive strength this year, leading all other categories in price achievement. Retail values for compact-sized earthmoving equipment are up 11% since January and are now at the highest level we've seen in the last 5+ years."

Register to download the free August Market Trends Report at: rbassetsolutions.com/market-trends-report.