Our February Market Trends Report is a Special Edition, offering you a comprehensive review of the transportation industry throughout 2021, including transport and vocational trucks and trailers in the United States and Canada.
The trucking industry continued to see high demand in 2021. Factors such as port congestion, COVID-related reduced workforce capacity, and continued driver shortages hampered the industry’s ability to transport goods as fast as it once did. Furthermore, the pace that manufacturers produce trucks has been dampened by these same factors. This environment has contributed to the unprecedented price acceleration we saw in median pricing of used trucks in 2021.
General trend highlights from the February report
U.S. transportation pricing trends:
- Used truck tractors prices increased 65% compared to the same last three months ending in December 2021, according to the Ritchie Bros. mix-adjusted price index
- Used vocational trucks prices increased 44% compared to the same last three months ending in December 2021, according to the Ritchie Bros. mix-adjusted price index
Canadian transportation pricing trends:
- Used truck tractors prices increased 37% compared to the same last three months ending in December 2021, according to the Ritchie Bros. mix-adjusted price index
- Used vocational trucks prices increased 32% compared to the same last three months ending in December 2021, according to the Ritchie Bros. mix-adjusted price index
A breakdown of truck & trailer pricing in the U.S. and Canada
United States:
- Truck Tractors T/A – Median Price was 25% higher in 2021 than in the previous year. Even with a decline in volume of 37%, over 11,000 truck tractors were sold in 2021
- Van Trailers – Median price rose 140% in 2021 comparted to 2020
- Pickup Trucks – Median Price was 30% higher in 2021 than in the previous year. Even with a decline in volume of 18%, over 6,000 pickup trucks were sold in 2021
- Lowboy Trailers – Median Price was 24% higher in 2021 than in the previous year
- Heavy Haul Trucks – Median Price was 35% higher in 2021 than in the previous year
Canada:
- Truck Tractors T/A – Median Price was 22% higher in 2021 than in the previous year. Even with a decline in volume of 22%, over 4,000 truck tractors were sold in 2021
- Pickup Trucks – Median Price was 10% higher in 2021 than in the previous year. Even with a decline in volume of 11%, over 3,000 pickup trucks were sold in 2021
- Lowboy Trailers – Median Price was 19% higher in 2021 than in the previous year
- Heavy Haul Trucks – Median Price was 23% higher in 2021 than in the previous year
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