Used Commercial Vehicle Registrations Hit Record Levels, According to Polk
SOUTHFIELD, MI - The number of used commercial vehicles (GVW Class 3-8) registered in the U.S. during the first two quarters of 2010 set a new record at 354,400, according to Polk's latest Commercial Vehicle Market Intelligence Report.
The total 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, reported Polk.
"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.
The Polk report also includes other commercial market highlights, including new commercial vehicle registration information, geographical registrations, and insight into aftermarket component demand.