Industry News

Heavy vehicle shortages spark auction demand

Supply chain shortages on heavy machinery and transport equipment have seen demands for end of financial year auctions surge as businesses struggle to get their hands on assets to complete projects.

Lloyds Auctions are seeing a rise for demand in their auctions, which as a result is driving up equipment prices in the civil and transport industries.

“Over recent months we have seen a massive demand from our bidders who are constantly actively looking to secure ready to work equipment in order to complete major projects and keep hard working Australians in jobs,” said Lee Hames, Chief Operations Officer.

“As we come towards end of financial year the demand for this equipment is skyrocketing as businesses are looking to claim tax benefits before June 30, so we have actually enlisted five heavy equipment and transport auctions across the country online right now,” he said.

Lloyds will be holding online auctions in locations across Australia including Western Australia, Darwin, Southeast Queensland, Mackay and Northern New South Wales from 27 June to 29 June, 2022.

“Many businesses are unable to wait until early next year for equipment to come in, they need it now, and we hope through these auctions we can help the community get the equipment they need,” he said.

The auctions feature equipment including dump trucks, wheel loaders, tipper trucks, prime movers, excavators and utility vehicles, and according to Hames, will allow customers to momentarily avoid supply chain shortages.

“Bidders can expect to get their hands on some ready to work machinery and transport equipment that they normally wouldn’t be able to get until next year due to the current supply chain shortage around the world,” he said.

Supply chain shortages are expected to persist through 2022 and into early 2023 until supply can catch up with demand.

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