Company Announcements

Ritchie Bros. to host online transportation industry panel on July 27

External and internal experts to discuss OEM production delays, volumes & pricing, driver shortages, high spot rates, and much more

VANCOUVER, BC, July 13, 2021 /CNW/ - With U.S. truck tractor prices up 30% year over year at Ritchie Bros., the company is diving into the data with industry experts to discuss what is driving this hot transportation market in 2021. On July 27, at 12 p.m. Pacific (3 p.m. Eastern) Ritchie Bros. will host an Inside Edge industry panel about the transportation industry, covering OEM production delays, auction volumes & pricing, spot rate impact, driver shortages, and more.

"Our Inside Edge Live Industry Panels are great way for Ritchie Bros. to connect with customers and industry associations to share expertise and data to help us all better understand the diverse issues and factors impacting the industries we operate in every day," said Matt Ackley, Chief Marketing Officer and host of Ritchie Bros.' Inside Edge Panels. "For our July 27th transportation panel, we have some great guests joining our discussion, including Steve Tam, Vice President of ACT Research; Stacey Jenkins, President of the Toronto Transportation Association; and Julien Bigras, Managing Director of Core Capital Inc."

Ritchie Bros.' Inside Edge Transportation Panel will be held as a Microsoft Teams Live Event. Visit rbauction.com/blog to register today. For more information, please email: CorpComm@rbauction.com.

This week Ritchie Bros. released its July 2021 Market Trends Report, taking a closer look at tandem-axle truck tractor sales (4 to 7-year old models) in Canada and the United States. In the U.S. the company is seeing a particularly hot market for 6-year-old trucks (2015 models) right now, while four-year-old models (2017 models) appear to be in strongest demand in Canada. One of the most popular make/models in both countries is the Freightliner Cascadia. Even though 2014-2017 truck models were a year older and had higher usage, the median price for Cascadias were more than 45% higher in the first half of 2021 vs. 2020. Visit rbassetsolutions.com/market-trends-report to download the full July 2021 report ahead of the industry panel.

About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE and 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, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. 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. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy, plus equipment financing and leasing through Ritchie Bros. FinancialServices. For more information about Ritchie Bros., visit RitchieBros.com.

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SOURCE Ritchie Bros.

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