A shortage of used commercial vehicles could be impacting the industry according to the latest analysis by Polk, with registrations down across all used gross vehicle weight sectors.
On Wednesday, Polk reported that used commercial vehicle registrations (GVW 3-8) declined by 26.7 percent to 164,024 units in the U.S. during the first quarter of 2012, compared to the same period in 2011.
“While used-vehicle registrations remain strong, the long awaited decline in used commercial vehicle registrations as seen in the past two quarters may indicate that a shortage of good, clean available units could finally be upon us,” said Gary Meteer, account director for commercial vehicle solutions at Polk.
During the 2012 calendar year, a record 791,288 used commercial vehicle registrations were reported, representing a 17.7 percent increase from the number reported during the 2011 calendar year.
“With the first quarter complete, it is hard to believe that the total number of used registrations during 2012 will meet or beat the record levels seen in 2011,” Meteer added.
The numbers do not indicate a lack of confidence in the used commercial truck market, he noted, but do indicate that the continued growth experienced since the 2008 calendar year will likely not continue through 2012.
Used commercial vehicles represented 55.9 percent of total commercial vehicle transactions in the market during the first quarter, down from 70 percent during first quarter 2011.
Combined with 129,755 new registrations of GVW 3-8 vehicles over the same time period, overall commercial vehicle transactions in first quarter 2012 were down 10 percent from the same quarter last year.
The decreases were larger in some other GVW sectors year-over-year, with declines ranging from 46.4 percent for GVW 7 vehicles to a decline of 18.6 percent for GVW 3 vehicles.
As for GVW 8 vehicles, Meteer said, “One of the most frequently watched and analyzed activities in the commercial vehicle market is the number of used registrations for GVW 8 vehicles. The used registrations of GVW 8 vehicles were down 27.6 percent from the level achieved during the first quarter of the 2011 calendar year.”
GVW 8 used-vehicle registrations during the first quarter this year accounted for 39.8 percent of total used transactions compared to 38.6 percent last year, 47.6 percent in 2010 and 41.2 percent in 2009.
Criteria for the Polk analysis summary require that both the business name and the business address on the vehicle registration must have changed from the previous owner. Information supplied by each state’s Department of Motor Vehicles is also utilized.
New VP Named
In other news from Polk, the company has promoted Brad Korner to the role of vice president of sales and client services for Automotive Retail Solutions and Media.
“We are excited to welcome Brad to this role,” said Kendra Rawls, senior vice president of global sales and marketing at Polk. “His proven track record and extensive industry experience, combined with his strong focus on customer relationships, will serve as a great asset to Polk customers and prospects.”
Korner has been with Polk since 2004, and is a 30-plus-year customer relationship management veteran. He previously served as director of sales and client services for the ARS group.
Prior to joining Polk, Korner spent nearly 24 years with Reynolds and Reynolds.
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