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Used truck tractor prices up 17% over three months

October 19, 2022 Admin No Comments

Used truck tractor prices up 17% over three months

Ritchie Bros. is reporting a 17% increase in the prices for Canadian used truck tractors during the three months ending in September, compared to the same time frame last year.

While prices of used vocational trucks also rose during the same time period, they were up 6%.

“There is still ongoing price inflation in the U.S. and in Canada,” it noted in its latest Market Trends report.

In Canada, the highest inflation levels were reported in agricultural tractors (+19%), truck tractors, and transportation (+17%), according to indices compiled by the auctioneer. In the U.S., 7% increases were recorded in transportation, truck tractors, and forklifts.

But the inflationary pressures appear to be easing.

“In the U.S. we see the price inflation rate slowing down for all categories,” it concluded, noting truck tractors were up 7% this month but 18% last month. In Canada, single-digit inflationary drops were recorded in agricultural equipment.

Ritchie Bros. auction

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