Market Trends Report for Q3 2024 digs into constructions and transportation sales
With our December edition of the Market Trends Report, we are taking a broad view of construction equipment and transportation sales using the industry’s best Q3 2024 and Q3 2023
In the full report, we look at pricing, volume, age at sale and usage trends for most major construction and transportation equipment categories with both Ritchie Bros. auction data and Rouse retail insights.
Ritchie Bros. Auction Trends
The auction market has continued to decline through the third quarter of 2024, albeit at a slower rate. Secondary market sales volumes remain high, however, with volume in many instances flat or down year-over-year. If volume continues to decline, prices should stabilize moving forward.
Generally, equipment values in the U.S. are nearing or below long-term averages (when considering the impact of inflation), whereas prices in Canada are still elevated.
Volume, meanwhile, is generally flat or slightly down across both the U.S. and Canadian markets.
Ritchie Bros. Mixed Adjusted Price Indexes
Prices in the U.S. for construction and transportation have decreased by 2 percentage points from last quarter (Q2 2024). On balance, values remain elevated against “pre-pandemic” (2019) levels.
In Canada, prices have decreased by 4 percentage points from last quarter (Q2 2024) in construction and decreased by 6 percentage points from last quarter in transportation. On balance, values for both categories remain elevated against “pre-pandemic” (2019) levels. ?
Retail Used Equipment Market from Rouse
Construction prices in the U.S. have decreased by approximately 2 percentage points from the last quarter, while transportation prices remained about the same.