SOUTHFIELD, Mich., Feb. 18, 2011 /PRNewswire/ -- Used commercial vehicle registrations (GVW 3-8) in the U.S. achieved a record level in 2010 with approximately 672,000 units registered, according to Polk, the recognized leader in data-driven solutions for the commercial vehicle industry. This represents an increase in used commercial vehicle registrations of 21.7 percent over 2009. With this increase, used commercial vehicle registrations accounted for nearly 65 percent of the total commercial vehicle market (new and used) in 2010.
This is the first year registrations of used commercial vehicles have exceeded 600,000 units. The uptick in the used market signifies a large opportunity for aftermarket parts manufacturers and suppliers that rely on the commercial repair and replacement business.
"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. "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."
The demand for clean used equipment was greatest for GVW 8 vehicles as they represented more than 47 percent of all used commercial vehicle transactions in 2010.
Polk's most recent Commercial Vehicle Market Intelligence Report includes these findings along with other commercial market highlights, including new commercial vehicle registration information, geographical registrations, global information and key insight into aftermarket component demand, which helps aftermarket and OEM component suppliers better plan inventory to match demand for replacement parts.
Polk has been providing commercial vehicle data to the industry for decades and began first reporting used versus new registration information in 2004. Polk's solutions for the commercial market also include the ability to pinpoint expected demand for specific new engine parts, including turbochargers, fuel pumps and EGR valves, among other components. Polk also has insight into filter, lubricant, tire, brake and engine replacement factors, as well as demand for rebuilt and part kits.
Polk is the premier provider of automotive information and marketing solutions. The organization collects and interprets global data, and provides extensive automotive business expertise to help customers understand their market position, identify trends, build brand loyalty, conquest new business and gain a competitive advantage. Polk helps automotive manufacturers and dealers, automotive aftermarket companies, finance and insurance companies, advertising agencies, media companies, consulting organizations, government agencies and market research firms make good business decisions. A privately held global firm, Polk is based in Southfield, Michigan with operations in Australia, Canada, China, France, Germany, Japan, South Korea, Spain, the United Kingdom and the United States. For more information, please visit www.polk.com.