Aerial, Earthmoving Equipment Prices Up: Ritchie Bros.

Ritchie Bros.' September Market Trends Report continues to show positive pricing trends across all its equipment indexes, with aerial equipment prices up 29 percent in the United States, medium earthmoving up 38 percent, and truck tractors up 36 percent respectively. Data are for the three months ending August 31, 2021.

High-usage and rental rates, as well as OEM production delays, have resulted in a sharp decline in the number of boom lifts, scissor lifts, and telescopic forklifts sold in 2021, according to the company. Over the past three months, scissor lift prices have inflated 15 percent, and boom lifts and telescopic forklifts are both up 16 percent.

“Buyers are paying a premium right now for aerial work platforms due to supply constraints, record-high rental rates, strong demand, and the amount of work available,” said Doug Olive, SVP pricing, Ritchie Bros., in a prepared statement.

Doug Rusch, managing director of Rouse Sales, said in a statement:

“Retail pricing for boom and scissor lifts has risen slowly but steadily this year, with values 6 percent higher now than January 2021. Meanwhile, telescopic forklifts prices are running 9 percent higher than the beginning of the year while volumes have soared, with Rouse seeing approximately 75 percent more telescopic forklifts sold through retail channels this year than the same time period in 2019, pre-pandemic.”

Source: Ritchie Bros.