September 5, 2013
Late last month, Polk released its study of commercial truck sales for January to June 2013. While the results of the study showed minimal growth in the new truck sales, the used truck market is booming.
Class 3-8 used truck registrations were up more than 8 percent from Jan. to June 2013 year-over-year, and Class 6-8 used registrations were up 10 percent, Polk says.
That’s pretty impressive.
Now obviously we’d all love to see the new truck market exploding with growth right now, but if it’s not going to happen at least it’s nice to have a fallback option.
Besides, it’s not like there isn’t money to be made in the used truck market.
An older truck population provides a wealth of parts and service opportunities, and the possibility of growing other areas of your business. And customers still need equipment. Don’t turn your back on sales just because you’re new trucks aren’t flying out of your facility.
Polk says its research points to the used trucks being sold now as replacements, so the new market is going to bounce back.
In the meantime, it’s nice to see there’s still one area of the truck market to rely on.