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Canada is a different story, with large excavator prices up 12%, while mini excavators are up 31%

FORT WORTH, Texas , Aug. 18, 2022 /PRNewswire/ - With its August Market Trends Report, Ritchie Bros . focuses on large and small excavator sales in the United States and Canada . In the U.S., median prices for large excavators are down 9% year over year, while mini excavator prices declined 5% in the last 90 days. In Canada it is quite a different story, with large excavator prices up 12% year over, while mini excavator prices over the last 90 days have increased 31%.

After the main feature on excavators, the report turns to Ritchie Bros .' individual mix-adjusted industry indexes, which are still up over 2021, but declining on a month-to-month basis since the peak pricing achieved earlier this year. In the U.S., truck tractor pricing still leads the way, up 27% year over year, while vocational trucks, medium, and large earthmoving prices are up 18%, 15%, and 12% respectively. Meanwhile, in Canada , truck tractor pricing is up 25%, while vocational trucks, medium, and large earthmoving come in at +10%, +13%, and +12%.

"We continue to experience year-over-year price inflation for equipment and trucks in the U.S. and Canada ," said Doug Olive , Senior Vice President, Pricing, Ritchie Bros . "However, as the transportation and logistics markets normalize, we have seen truck prices decline. We are seeing similar pricing trends across our other industry indexes as well, with year-over-year increases, but declining on a month-to-month basis."

Doug Rusch , Managing Director of Rouse Sales, added, "Tight supply continues to be the story in the retail market, with lower-than-typical sales volumes driving strong pricing and retail values increasing 2% in July. Excavators in particular have shown strong pricing, with retail values rising 4-5% in the past 90 days across all sizes classes. Auction values for excavators have moderated a bit since June 2022 . Since then, we have seen smaller class mini excavator prices decline 6-7% percent at auction, while larger excavators have declined 2%."

 Used Commercial Assets - Pricing Highlights Price change (±1.5%) year-over-year for the 3 months ending July 31, 2022

Source: Ritchie Bros. transactional data.

Established in 1958, Ritchie Bros . (NYSE:RBA) (TSX:RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, mining, and forestry, the company's selling channels include: Ritchie Bros . Auctioneers, the world's largest industrial auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace with weekly featured auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Ritchie List , a self-serve listing service for North America ; Mascus, a leading European online equipment listing service; Ritchie Bros . Private Treaty, offering privately negotiated sales; and sector-specific solutions GovPlanet, TruckPlanet, and Ritchie Bros . Energy. The Company's suite of solutions also includes Ritchie Bros . Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system; SmartEquip, an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; plus equipment financing and leasing through Ritchie Bros . Financial Services. For more information about Ritchie Bros ., visit RitchieBros.com.

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