Used aerial sales decline, pricing increases

According to the July 2022 Ritchie Bros. monthly Market Trends Report, sales of used aerial equipment, which includes booms, scissor lifts, forklifts and telehandlers, saw declines in volumes sold in the U.S., but pricing was up by 18 percent.

(Graphic: Ritchie Bros./Rouse)

“Used equipment sales volumes continue to run behind prior year levels across all sales channels,” said Doug Rusch, managing director, 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.”

According to the report, boom lift sales for 2022 Q2 were down -18 percent compared to the same period in 2021, but pricing was up by 28 percent. Scissor lift sales saw a decline of -16 percent in Q2 but pricing increased by 24 percent. When looking at Q1 2022 figures, scissor volumes were down -33 percent in the U.S. while pricing was up 42 percent.

The hardest hit sector for access was telehandlers, which declined in volumes sold during Q2 by -32 percent. Pricing, however, was up 26 percent. 

For telehandlers and boom lifts sold in the U.S. during the first half of the year, the median equipment age increased from 8 years to 9 years, while scissors remained at 8 years. 

According to the report, inflation in the U.S. remains highest in transportation at 40 percent, and for truck tractors at 39 percent.

However, RItchie noted, “In the U.S., we see the price inflation rate slowing down for almost all categories, except dozers, where [it] remains at 14 percent.”