Posted on 31 Aug 2010
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 Polk, the recognized leader in data-driven solutions for the commercial vehicle industry. 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. Additionally, this figure represents an increase of 28.8 percent over the same timeframe in 2009.
"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. 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.
Polk’s solutions for the commercial market also include the ability to pinpoint expected demand for specific new engine parts, including turbochargers, fuel pumps and EGR valves, among other components. Polk also has insight into filter, lubricant, tire, brake and engine replacement factors, as well as demand for rebuilt and part kits.
About R. L. Polk & Co.
R. L. Polk & Co. is the premier provider of automotive information and marketing solutions. Polk collects and interprets global data, and provides extensive automotive business expertise to help customers understand their market position, identify trends, build brand loyalty, conquest new business and gain a competitive advantage. Polk helps automotive manufacturers and dealers, automotive aftermarket companies, finance and insurance companies, advertising agencies, media companies, consulting organizations, government agencies and market research firms make good business decisions. A privately held global firm, Polk is based in Southfield, Michigan with operations in Australia, Canada, China, France, Germany, Japan, Spain, the United Kingdom and the United States.