Polk: Used CV registrations hit record levels

The uptick in the used market signifies a large opportunity for aftermarket parts manufacturers and suppliers that rely on the commercial repair and replacement business.

The Trucker News Services

8/30/2010

SOUTHFIELD, Mich. — There were 354,400 used commercial vehicles (GVW Class 3-8) registered in the U.S. during the first two quarters of 2010, according to the latest analysis by R.L. Polk and Co.

This historic number sets a new record for used commercial vehicle registrations in a six-month timeframe and represents nearly 68 percent of the commercial vehicle market, Polk noted. Additionally, this figure represents an increase of 28.8 percent over the same timeframe in 2009.

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“The significant increase in used vehicle registrations so far this year is indicative of an uptick in the industry with the changeover of the commercial fleet,” said Gary Meteer, director, sales and client services, at Polk. “Large fleet owners and operators are upgrading to new vehicles, and therefore the smaller fleet companies and independent owner operators have great opportunities to find available clean used equipment.”

The combined registrations of new and used commercial vehicles in the first half of 2010 were 524,700, representing an 18.9 percent increase over the same period last year. New commercial vehicle registrations saw just a slight increase of 3.1 percent in the timeframe.

Polk’s most recent Commercial Vehicle Market Intelligence Report includes these findings along with other commercial market highlights, including new commercial vehicle registration information, geographical registrations and key insight into aftermarket component demand, which helps aftermarket and OEM component suppliers better plan inventory to match demand for replacement parts.

Polk has been providing commercial vehicle data to the industry for decades and began first reporting used versus new registration information in 2004. This is the first year registrations of used commercial vehicles have seen such significant growth, Polk added. The uptick in the used market signifies a large opportunity for aftermarket parts manufacturers and suppliers that rely on the commercial repair and replacement business.

Kevin Jones of The Trucker staff can be reached for comment at kevinj@thetrucker.com.

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