TORONTO, Ont. – Ritchie Bros. continues to report weaker used truck and heavy equipment prices in Canada compared to last year, but the declines are easing.
“Used equipment values in general continue to be lower compared with the same time period last year for the U.S. and Canada, however, the rates of decline continue to moderate as they have over the past few months,” the auctioneers report in their August Used Equipment Market Trends Summary.
For the three months ending in July, the prices for Canada’s used truck tractors were down about 3% compared to the same time frame last year. In contrast, the drop was closer to 6% in the U.S.
Canadian heavy equipment values were also down, but by just 1%, as were the prices of used vocational trucks. In the U.S., the value of used vocational trucks was down 3%, while heavy equipment values were down 2%.
Lifting and material handling equipment prices were essentially flat year over year on this side of the border, but down about 4% in the U.S.
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