Market Trends Report looks at 2023’s equipment sales

The newest issue of the Rouse Market Trends Report is taking a broad view of heavy equipment and trucking sales throughout 2023.

Starting with hydraulic excavators, there was a slight dip in median pricing in 2023 in both the US and Canada. It was a different story for dozers, which saw a slight increase in pricing versus the US where the median pricing was steady year over year, as were volumes. Caterpillar and John Deere were the top two brands for both categories.

Wheel loader pricing and volume in Canada were also steady in 2023 compared to the year prior. In the US, pricing and sale volumes both increased. It was similar for articulated dump trucks, which increased in volume and median pricing year over year.  

Significant median price increases for motor grader and more

One of the categories we saw significant median price increases in 2023 was motor graders in Canada. Volume was down, as was median age and usage. In the US, median pricing remained flat with slightly lower volumes. Caterpillar was the most popular brand in both countries.

Other categories with significant volume increases year over year in both the US and Canada was multi terrain loaders and skid steers, as well as telehandlers. Multi terrain loaders and skid steers saw lower median pricing in 2023 in both countries, where Bobcat continued to be the dominant brand. Median pricing for telehandlers dropped in the US, but increased in Canada, where JLG surpasses CAT as the most popular brand. Also worth noting was a significant decrease in median pricing in 2023 for boom lifts in the US.

Volumes pressure median pricing on truck tractors

Truck tractors decreased in median pricing in Canada but saw in increase in volume in 2023. It was a similar story in the US where there was a decrease in median pricing against a significant increase in volume. The top brands in Canada were Freightliner, Kenworth and International (same as 2022), while Freightliner, International, Peterbilt were dominant in the US.

View from the retail side

Retail sales volume increased 16% in 2023 versus the prior year, with total volume returning to the levels last seen in 2019-2020.

After peaking in November 2022, equipment values in the retail market declined 13% over the course of the year, as new machine availability loosened following several years of COVID-induced supply constraints.

Despite the year-long downward trend, values continue to sit at historically strong levels; 10-15% higher than long-term historical trends.

Market Trends switches to quarterly schedule 

Lastly, we wanted to inform you of a publication change to the Market Trends Report. We will no longer publish monthly, but instead switch to a quarterly schedule. Thus, the next report will feature Q1 2024 data and will be published in April.

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