Our July Market Trends Report is now available!
With our latest report we dig into construction and aerial equipment sales through the first half of 2022. In the United States, our mix-adjusted price indexes (for April to June) show prices for used large and medium earthmoving categories are up 15% and 20% year over year respectively, while aerial equipment is up 18%.
Price indexes in Canada show similar trends, with large and medium earthmoving equipment up 14% and 19% respectively, while aerial is up 10%. Meanwhile, truck tractor prices in the U.S. and Canada continue to lead, with the highest year-over-year price inflation—up 39% in the U.S. and 31% in Canada.
As mentioned in the June report, while indexes show pricing above last year’s level, across the board they are down by single digit percentages relative to earlier in 2022.
U.S. volumes declining, while Canada volumes steady
The free July report, which is available at rbassetsolutions.com/market-trends-report, provides detailed charts outlining U.S. and Canadian sales of excavators, dozers, wheel loaders, articulated dump trucks, motor graders, loader backhoes, multi-terrain loaders, skid steers, telehandlers, boom lifts, scissor lifts, and forklifts throughout the first half of 2022.
One of the major trends we are seeing is a decrease in volumes for equipment, especially in the United States. In the U.S. we are seeing the biggest declines in the excavator and multi-terrain loader categories. We have also seen steep declines for all aerial equipment categories, including boom & scissor lifts, forklifts, and telehandlers.
In contrast to the U.S., the volume of large earthmoving equipment sold in Canada was mostly steady or on the rise in the first half of 2022 over the same time last year. The levels of medium earthmoving equipment experienced moderate declines, while aerial equipment volume declines were greater. The median age of equipment sold in Canada also differed from the U.S. For example, excavators, wheel loaders and loader backhoes were newer or the same age as those sold during the first six months of 2021.
Rouse Services reports on the retail market
The monthly report also includes data and insights from Rouse Services, who track hundreds of auction and retail companies. As of July 1, 2022, Rouse’s Retail and Auction Value Indexes are currently +30% and +32% in relation to pricing from January 2016.
“Used equipment sales volumes continue to run behind prior year levels across all sales channels,” said Doug Rusch, Managing Director of Rouse Sales. “Retail values for most categories of equipment continued to rise in June, albeit at a slower pace than we’ve seen in recent months. After rising 18 straight months, auction values have stabilized. In some cases—aerial, telehandlers, and medium-sized earthmoving equipment—auction values decreased slightly last month in contrast to record highs experienced in recent months.”
For more information, subscribe to the free monthly Market Trends Report and it will be sent to your inbox each month.