"The significant increase in used vehicle registrations during the 2010 calendar year is indicative of a strengthening in the demand for commercial vehicles overall," said Gary Meteer, director, sales and client services, at Polk.
The recently released figures represent a massive 21.7 percent increase over the result achieved in 2009. Given the fact that used CVs currently represent 65 percent of the total commercial vehicle market (new and used), this clearly indicates that the service-providing industry in the US is on the rise, a clear indicator of recovery.
This is also the first year registrations of used commercial vehicles have exceeded 600,000 units. This rise of the market will represent a large significant opportunity for aftermarket parts manufacturers and suppliers, which rely on the commercial repair and replacement business.
"Large fleet owners and operators are upgrading to new vehicles, and therefore the smaller fleet companies and independent owner operators have the opportunity to find available clean used equipment; however, the pattern of used vehicle transactions indicates a softer supply of clean used equipment during the last quarter of the calendar year," Meteer also said.
Polk's recent Commercial Vehicle Market Intelligence Report also includes other commercial market highlights, namely new commercial vehicle registration information, geographical registrations, global information and key insight into aftermarket component demand.
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