Our experienced team provide market insights and news on the Asset Advisory and Auction industry.

Read our Quarterly Report Q4 2020

Posted 01 March 2021

Despite the new and secondary equipment markets being affected by COVID-19 and a recession during 2020, the fourth quarter closed with positive results across all sectors. With an expectation that the markets will continue to strengthen in 2021. 

  • New road transport sector achieved 5 months of growth and is showing some certainty for strengthening results in 2021 across all segments.
  • Caterpillar has seen full-year sales and revenues decline by 22% in 2020.  One of the only positives to be found was in Asia pacific with the Resource industry going up by 8% highlighting that mining was less affected by the COVID-19 pandemic.
  • The agricultural equipment market in Australia had a standout year. Highlighted with Tractor sales not seen since the 1980s with over 13,000 units sold in a one month period.
  • The Automotive industry is grappling with stock shortages across the country; The VFACTS data shows 916,968 new cars were reported as sold for the 2020 calendar year – down by 13.7 per cent compared to the prior year, but a recovery from the 48.5 per cent decline in April 2020.
  • Secondary truck, machinery and automotive assets through auction remained very strong this quarter with stock short for new assets prices achieved were positive.
  • Luxury and recreation assets such as motorhomes, sports cars and boats have been popular. This is the result of the COVID-19 pandemic and Australian being unable to travel overseas for holidays, therefore have been purchasing luxury goods to enjoy their holidays at home.

View the full report online here