2013 Used Commercial Vehicle Transactions Up 7.8 Percent Through Three Quarters, According To Polk PR Newswire SOUTHFIELD, Mich., Dec. 12, 2013 SOUTHFIELD, Mich., Dec. 12, 2013 /PRNewswire/ --Used commercial vehicle registrations during the first nine months of the 2013 calendar year were up just under eight percent over the same period last year, according to Polk, the global automotive market intelligence firm recently acquired by IHS (NYSE: IHS). Nearly 527,500 used commercial registrations were recorded during the January-September timeframe, which represented the second best nine-month level of used transactions since Polk started tracking used transactions in the 2004 calendar year, and trailing only the record nine-month total of 649,950 transactions reported during the first nine months of the 2011 calendar year. Strong demand continues for clean used equipment to replace older equipment. New commercial vehicle registrations during the first nine months of 2013 increased by just 2.8 percent over the same time period in 2012. "The continued strength of used commercial vehicle transactions during the first three quarters 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 the total commercial vehicle population remains relatively flat, and the high demand for clean used equipment is for the replacement of significantly older (pre-2000 Model Year) equipment. During the past four calendar years, when there has been strong demand for clean used equipment and slower demand for new equipment, more than 1.5 million pre-2000 models have been eliminated from the vehicle population and replaced with newer used equipment," he said. The demand for used commercial vehicles during the most recent quarter reflects strong demand across each of the vehicle segments. Used GVW 8 transactions continue to reflect performance lower than historical levels as a result of the continued shortage of clean used equipment resulting from the extremely low level of new GVW 8 registrations during the 2008-2010 calendar years. Used Commercial Vehicle Registrations for July-September 2013 VIN-Defined Gross July-Sept 2013 Percentage Change July-Sept 2013 Vehicle Weight from July-Sept 2012 Used Commercial Share of Used Vehicle Transactions Commercial Vehicles GVW 3 52,300 5.6 30.7 GVW 4 17,050 6.2 10.0 GVW 5 9,150 6.0 5.4 GVW 6 15,100 8.8 8.8 GVW 7 14,950 9.5 8.8 GVW 8 61,900 2.4 36.3 TOTAL 170,450 5.1 100.0 While new commercial vehicle registrations during the July-June period were basically flat, the demand for used equipment continued strong and outperformed new registrations, as used transactions accounted for 53.0 percent of total commercial vehicle transactions during the July-September quarter. From a historic 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 53.0 percent level is down from 68 percent in the first two quarters of the 2011 calendar year, used transactions as a percent of total commercial transactions remain significantly above historical levels. Used Commercial Vehicle Registrations (GVW 3-8) Percentage share of Total Vehicle Registrations over Time 2007 2008 2009 2010 2011 2012 2013 QTR 1 45 48 58 66 68 55 57 QTR 2 43 47 66 67 68 55 56 QTR 3 50 49 67 64 59 53 53 QTR 4 47 49 57 60 53 54 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_september_2013. About IHS (www.ihs.com) IHS (NYSE: IHS) is the leading source of information, insight and analytics in critical areas that shape today's business landscape. Businesses and governments in more than 165 countries around the globe rely on the comprehensive content, expert independent analysis and flexible delivery methods of IHS to make high-impact decisions and develop strategies with speed and confidence. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS is committed to sustainable, profitable growth and employs more than 8,000 people in 31 countries around the world. IHS is a registered trademark of IHS Inc. All other company and product names may be trademarks of their respective owners. © 2013 IHS Inc. All rights reserved. SOURCE IHS Automotive Website: http://www.ihs.com Contact: Michelle Culver, Lambert, Edwards & Associates, +1 313 309-9505, firstname.lastname@example.org
2013 Used Commercial Vehicle Transactions Up 7.8 Percent Through Three Quarters, According To Polk
Press spacebar to pause and continue. Press esc to stop.