‘Solid demand’ for used commercial vehicles
Used commercial vehicle registrations jumped nearly 5 percent during the first three months of 2013, showing 171,724 units – an increase of 4.7 percent when compared to used similar data last year.
With the exception of first quarter 2011, used registrations in the first quarter of the 2013 calendar year are the highest since 2005, according to data released by R.L. Polk Monday. During this same period, new commercial vehicle registrations were down 4.4 percent.
“This is a significant development for the market, in that while new registrations are soft, when compared to the same quarter in the previous calendar year or with the level of new registrations during the last quarter of 2012, there is still solid demand for used commercial vehicle equipment,” said Gary Meteer, director, aftermarket and commercial vehicle solutions at Polk. “Since smaller businesses and individual owners are the primary purchasers of used equipment, the strong demand is an indication that these companies are positive and confident about their business, and therefore replacing older equipment or adding vehicles to their fleet.”
Used commercial vehicle transactions have accounted for 57.1 percent of total registrations during the first quarter of the year. The share of total commercial vehicle registrations accounted for by used transactions continues to decline from a high of 70 percent in the first quarter of the 2011 calendar year.