Ritchie Bros. Market Trends Update: Record multi-terrain loader sales in 2020

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Record multi-terrain loader sales in 2020

14,000+ multi-terrain loaders sold for US$313 million since 2015.

The perfect tool for a small project. The multi-terrain loader (MTL) is a versatile machine used across nearly every industry, from construction to agriculture. Its size and ease of maneuverability make the multi-terrain loader ideal for jobs where a bigger machine can’t fit, and its rubber tracks allow it to operate on sand, snow, mud, and turf.

In the United States since 2015, Ritchie Bros. has sold more than 14,000 multi-terrain loaders for US$313 million, with 2020 being a particularly strong year for MTL sales. In fact, in the first three quarters of 2020 (Jan – Sep) Ritchie Bros. has already sold 2,750+ multi-terrain loaders for US$64 million, which is just shy of total MTL sales in 2019.

“Used across industry, the versatile multi-terrain loader was in high demand in 2020, with a record number of units selling through our numerous sales channels,” said Doug Olive, Senior Vice President, Pricing, Ritchie Bros. “There are a number of factors that have contributed to this record-breaking year for multi-terrain loader sales, including an uptick in residential construction, rental company fleet renewals, landscaping projects, seasonal work, and more.”

Multi-terrain loader sales

Multi-terrain loaders sold in the U.S.: 2017 – Q3 2020

Record high prices reached in Q2 2020.

Pricing has also reached record highs for multi-terrain loaders in 2020. In Q2 2020 (Apr – Jun) MTL median pricing reached $23,000, which is up 8.7% from the previous record. However, in Q4, median pricing declined slightly to $21,000 as shown through RB NOW! a view in Ritchie Bros. Market Trends which highlights transactions over the past 30 days.

In the United States alone this year, top selling multi-terrain loaders brands at Ritchie Bros. were Caterpillar, Bobcat, and Takeuchi. Top 2020 models include Caterpillar 259D, Bobcat T590, and the Caterpillar 289D.

When comparing the top three models from the past three years (Jan 2017 – Sep 2020), we see price depreciation for the Caterpillar 259D, the Bobcat T590, and T190 is sharpest for two- to four-year-old machines. By usage, price declines were sharpest for 1,000- to 2,000-hour machines. The specifications of these makes and models can be compared on RitchieSpecs.com.

Multi-terrain loader pricing

Pricing comparison chart for multi-terrain loaders

21,000 multi-terrain loaders sold for US$421+ over 10 years

Over the past 10 years, we’ve sold 21,000+ multi-terrain loaders in the United States for a staggering US$421+ million! Approximately 31% of the units were purchased by local state buyers (based on the auction location), while 63% was purchased by out-of-state buyers, and the remaining 5% purchased by international buyers. In the past three years, the top selling locations for multi-terrain loaders was Texas, Florida, North Carolina, Georgia, and California.

Multi-terrain loader buyers

Asset and buyer locations for multi-terrain loader sales at Ritchie Bros.

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To learn more about equipment and truck prices, download the December version of the Ritchie Bros. Used Equipment Market Trends summary report. The December report also includes mix adjusted used pricing indices, including a comparison chart for the U.S. Ritchie Bros. Heavy Truck Price Index and U.S. Heavy Duty Truck shipments, plus a feature section on small construction highlights.

As a result of our ability to drive record online demand in 2020, the December Used Equipment Market Trends report is showing price inflation across all majority equipment categories. For example, U.S. truck tractor prices increased 8% over the same time period (three months ending December) in 2019.

Used Commercial Assets – December 2020 Summary Highlights
(for 3 months ending December 2020)

Equipment Category

USA

Canada

Heavy equipment

Prices increased 2% (± 1.5%) year over year

Prices increased 2% (± 1.5%) year over year

Truck tractors

Prices increased 8% (± 1.5%) year over year

Prices increased 2% (± 1.5%) year over year

Vocational trucks

Prices increased 4% (± 1.5%) year over year

Prices increased 4% (± 1.5%) year over year

Lifting/material handling

Prices increased 1% (± 1.5%) year over year

Prices increased 2% (± 1.5%) year over year

 

The Market Trends application is an independent part of the suite of services within Ritchie Bros. Asset Solutions (rbassetsolutions.com), which is a complete end-to-end asset management and disposition system. This cloud-based SaaS solution brings together a suite of tools and services to help customers better manage, analyze, and sell their assets. From any internet-enabled device, customers are able to access a complete inventory management system, data analytics and dashboards, branded e-commerce sites, and multiple external sales channels.

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