Ritchie Bros.' latest Market Trends Summary covers Canadian combine sales

Rhea-AI Summary

Ritchie Bros. released its September 2020 Market Trends report, providing insights into equipment pricing trends based on extensive transaction data. The report indicates a general decline in prices across various categories, with used heavy equipment prices down approximately 1% year-over-year in both the USA and Canada. Truck tractors saw a larger decline, with a 4% decrease in the USA. Despite these declines, the report suggests that most groups are experiencing moderating deflation or price parity. The company continues to emphasize its unique data analysis capabilities in the used equipment market.

Positive

• Market Trends report offers detailed insights into equipment pricing.
• Moderating deflation or price parity observed across most groups.
• Ritchie Bros. maintains a strong reputation for comprehensive transaction data analysis.

Negative

• Used heavy equipment prices declined ~1% year-over-year.
• Truck tractor prices fell ~4% in the USA year-over-year.
• Vocational trucks and lifting/material handling equipment prices also declined.

Download the report to learn more about pricing trends at Ritchie Bros.

VANCOUVER, BC, Sept. 9, 2020 /PRNewswire/ - With billions of dollars of equipment transacting via multiple sales channels each year, Ritchie Bros. has the data and in-house expertise to provide unmatched insight into industry trends. The company shares these insights via its Market Trends module within its Ritchie Bros. Asset Solutions suite of tools, allowing customers, investors, and analysts to better understand the strength of an asset class through in-depth analysis of Ritchie Bros. transaction history, including market trends, equipment price performance, supply and demand geography, and mix-adjusted price indexes.

Each month, Ritchie Bros. publishes a free, high-level, downloadable report of these pricing trends, broken out by industry. The September report is now available for download here: ritchiebros.com/market-trends-report. The full Market Trends module is available by paid subscription.

"While most product groups continue to show prices somewhat lower this year versus last, all groups in this month's report show moderating deflation or price parity," said Ken Calhoon, Vice President, Data Analytics, Ritchie Bros. "With farm crop harvest on the horizon, we provide additional insights into the Canadian combine market this month. Over the past year and half, we have sold more than 600 combines for $85 million."

September 2020 Market Trends Summary Highlights
Equipment Category	USA	Canada
Used heavy equipment	Prices declined ~1% (± 1.5%) year over year	Prices declined ~1% (± 1.5%) year over year
Truck tractors	Prices declined ~4% (± 1.5%) year over year	Prices declined ~2% (± 1.5%) year over year
Vocational trucks	Prices declined ~2% (± 1.5%) year over year	Prices steady (± 1.5%) year over year
Lifting/material handling	Prices declined ~3% (± 1.5%) year over year	Prices steady (± 1.5%) year over year

"Used equipment experts, sellers, and buyers look to Ritchie Bros. transaction data as the industry gold standard," continued Mr. Calhoon "While others may try to scrape and repackage our data, only we have the full dataset, the understanding, and the ability to derive deep insights. Our team of data analysts and data scientists use machine learning and data visualization to create one of the best used equipment data products on the market."

The Market Trends application is an independent part of the suite of services within Ritchie Bros. Asset Solutions (rbassetsolutions.com), which is a complete end-to-end asset management and disposition system. This cloud-based SaaS solution brings together a suite of tools and services to help customers better manage, analyze, and sell their assets. From any internet-enabled device, customers are able to access a complete inventory management system, data analytics and dashboards, branded e-commerce sites, and multiple external sales channels.

For more information about Market Trends, please email dataproducts@ritchiebros.com.

About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company's suite of multichannel sales solutions also includes Ritchie Bros. Asset Solutions, a complete end-to-end asset management and disposition system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media. 

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SOURCE Ritchie Bros.

FAQ

What are the key findings from the September 2020 Market Trends report by RBA?

The report highlights a general decline in equipment prices, with a notable 1% decrease in used heavy equipment prices year-over-year, and truck tractors down by 4%.

How can I access Ritchie Bros. Market Trends reports?

The Market Trends report is available for free download on Ritchie Bros.' website, with a full subscription required for the complete Market Trends module.

What equipment categories saw price declines in the September 2020 report?

Key categories with declines include used heavy equipment (~1%), truck tractors (~4%), and lifting/material handling equipment (~3%).

What factors are affecting pricing trends in the equipment market according to Ritchie Bros.?

Pricing trends are influenced by supply and demand geography, market trends, and the current economic climate, with reports indicating moderating deflation.