According to Ritchie Bros. latest Market Trends Report, the sale of used prime mover and trailers have soared over the last 12 months.
The half-yearly report shows record demand for utilized transport and construction equipment and a booming agricultural sector, with used tractor sales upward by 156. 97 for each cent, from the same six-month period last year.
Richie Bros. APAC director, Finlay Massey, who sells industrial gear and trucks through online auctions across Australia said the particular record growth with soaring demand across every sector including transport, construction, agriculture, energy plus mining reached unprecedented levels in 2021.
“In the first half of 2022 we have seen significant increases in the numbers of construction, transport and agriculture vehicles sold as well because bidders, buyers and sellers turning up in droves, ” Finlay said.
“Operators are turning to used assets since they are usually faced along with 12-24 month waits on new products. We expect the transportation industry will continue in order to be disrupted by significant challenges for the next 18 months, but we know the sector is buoyed by the particular commitment associated with the Australian Government through its $120 billion funding of the infrastructure investment pipeline plus the Instant Asset Write-off Scheme stimulating spending, ” he stated.
The substantial rise within buyer need has continued despite the negative impacts of the pandemic that have plagued the particular industry over the last two years. These factors have contributed to an increasing cost base for operators and record demand for used tools.
“What we are seeing on the Richie Bros. auction floors is carried on buoyancy despite the real economic pain being felt right now. Put simply, all of us have cashed up purchasers with not enough supply, ” Massey mentioned.
Ritchie Bros. says the particular transport machinery market continues to thrive in spite of driver shortages, record fuel prices and air freight being back up and running.
However, as so many operators are struggling with increasing costs, among other challenges, there has also been an increase in the number of complete fleet dispersals, as numerous transport operators sadly make the tough decision to call it quits – with Thurwood Refrigerated Transport , Burke’s Transport , Maranoa Haulage , Robert Holmes Transport , MMV Transportation and Howe Haulage being just some of the particular companies which have closed their doors in the past 12 months and sold their fleets through the auction house.