Used commercial vehicle registrations during the first half of the 2013 calendar year are up more than nine percent over the same period last year, according to Polk, the global automotive market intelligence firm recently acquired by IHS (NYSE: IHS). 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. 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 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," according to Gary Meteer, director, aftermarket and commercial vehicle solutions at Polk. "Our analysis indicates that the majority of these transactions represent the replacement of older equipment in the commercial vehicle population versus adding to the total vehicle population," he said.
Used Commercial Vehicle Registrations for Jan-June 2013
VIN-Defined Gross Vehicle Weight: GVW 3
Jan.-June 2013 Used Transactions: 106,500
Percentage Change from Jan.-June 2012: 8.0
Jan-June 2013 Share of Used Commercial Vehicles: 29.8 percent
VIN-Defined Gross Vehicle Weight: GVW 4
Jan.-June 2013 Used Transactions: 33,900
Percentage Change from Jan.-June 2012: 6.8
Jan-June 2013 Share of Used Commercial Vehicles: 9.5 percent
VIN-Defined Gross Vehicle Weight: GVW 5
Jan.-June 2013 Used Transactions: 18,300
Percentage Change from Jan.-June 2012: 10.5
Jan-June 2013 Share of Used Commercial Vehicles: 5.1 percent
VIN-Defined Gross Vehicle Weight: GVW 6
Jan.-June 2013 Used Transactions: 30,700
Percentage Change from Jan.-June 2012: 10.1
Jan-June 2013 Share of Used Commercial Vehicles: 8.6 percent
VIN-Defined Gross Vehicle Weight: GVW 7
Jan.-June 2013 Used Transactions: 27,400
Percentage Change from Jan.-June 2012: 9.8
Jan-June 2013 Share of Used Commercial Vehicles: 7.7 percent
VIN-Defined Gross Vehicle Weight: GVW 8
Jan.-June 2013 Used Transactions: 140,300
Percentage Change from Jan.-June 2012: 10.0
Jan-June 2013 Share of Used Commercial Vehicles: 39.3 percent
TOTAL
Jan.-June 2013 Used Transactions: 357,100
Percentage Change from Jan.-June 2012: 9.1
Jan-June 2013 Share of Used Commercial Vehicles: 100.0 percent
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. To put this in perspective, prior to the 2009 calendar year, 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.
Polk has been providing commercial vehicle data to the industry for decades and first began reporting used and new registration information in 2004. Polk's solutions for the commercial market also include the ability to pinpoint business owners who have purchased used equipment and are therefore a good prospect for future purchases. Solid name lists based on ownership profiling is one of the many services Polk provides to customers who are looking to expand their new and used vehicle business. For additional details from Polk's most recent commercial analysis, please visit: https://www.polk.com/knowledge/reports/quarterly_commercial_vehicle_report_june_2013
