Truck tractors, van trucks, trailers, and more
In this episode of the Inside Edge, Ritchie Bros. looks back through market data from the pandemic to mid-Q1 and analyzes trends in the transportation industry. To go behind the numbers and unearth the issues impacting the transportation sector, host Andrew Engelhardt is joined by experts Steve Tam, Vice President of ACT Research, and Ritchie Bros.’ Senior Pricing Analyst, Rob Slavin. They analyze the latest data to reveal some surprising and some not-so-surprising market trends. The conversation revolves around supply-and-demand issues, the shortage of new and used units, and why prices are declining.
Key Quotes
“The reality is we are still short of trucks, both on the new truck side and the used truck side. Even though the economy is slowing and freight is not as robust as it was, it’s still a pretty good market.” — Steve Tam, Vice President, ACT Research Co.
“We are coming back down to reality now but we still aren’t there. … This is a once-in-a-lifetime thing. I don’t think I will ever see this kind of market comeback again.” — Rob Slavin, Senior Pricing Analysis, Ritchie Bros.
“It’s very clear in the data we see on the new truck side of the business, manufacturers were diverting scarce parts in favor of the heavier trucks because the margins are better on those trucks.” — Steve Tam, Vice President, ACT Research Co.
Additional Resources
Subscribe for Ritchie Bros. Monthly Market Trends report here: rbassetsolutions.com/market-trends-report
Search equipment values for free with the Ritchie Bros. pricing results tool at: RBAssetSolutions.com.