Polk announces used vehicle transactions up in 2013
Nearly 357,100 used commercial registrations were recorded during the January-June timeframe, based on Polk analysis, which also found used transactions during the second quarter of the 2013 calendar year were the highest since the second quarter of the 2011 calendar year, reflecting continued demand for clean used equipment, the global automotive market intelligence firm says.
New commercial vehicle registrations during the first six months of 2013 increased by just one half percent over the same time period in 2012, the company says.
“The strength of used commercial vehicle transactions during the first half of the calendar year reflects a competitive market for clean used equipment as it becomes available,” says Gary Meteer, director, aftermarket and commercial vehicle solutions at Polk. “Our analysis indicates the majority of these transactions represent the replacement of older equipment in the commercial vehicle population versus adding to the total vehicle population.”
Of significance, while new commercial vehicle registrations during the January-June period were basically flat, the demand for used equipment continues to be strong and continues to outperform new registrations, as used transactions accounted for 56.7 percent of total commercial vehicle transactions during the first half of the year, Polk says. To put this in perspective, prior to the 2009 calendar year, the company says used transactions accounted for between 41 and 48 percent of total registrations during the 2004 through 2008 calendar years, so while the 56.7 percent level is down from 70 percent in the first quarter of the 2011 calendar year, used transactions as a percent of total commercial transactions remain significantly above historical levels.
For more information on Polk’s analysis, please CLICK HERE.