Prices Rise For Heavy Equipment

Prices of truck tractors and heavy equipment are on the rise, says Ritchie Bros. Asset Solutions in its ‘Market Trends’ report. Truck tractor prices in Canada increased two per cent in the fourth quarter of 2020 compared to the same period a year ago, while vocational truck prices increased four per cent, lifting/material handling equipment prices increased two per cent, and heavy equipment also increased two per cent. In the U.S., 2020 saw a particular increase in multi-terrain loaders due to an uptick in residential construction, rental company fleet renewals, landscaping projects, and seasonal work.