New, used truck registrations up year-over-year

ENGLEWOOD, CO– There were 14 percent more trucks on North American roads in the first nine months of 2014 when compared to the same time last year, according to a report by vehicle industry research firm IHS Automotive.

Truck registrations totaled 488,966, an increase of 13.9 percent compared to 429,451 during the first nine months of 2013, driven by an 18.9-percent increase in new registrations of Class 8 trucks, according to IHS. That’s almost double the level reported during the first nine months of 2009.

“New registrations in the most recent quarter reflect the strong order and production schedules that have been reported by manufacturers,” the IHS report claims.

New registrations during the Q3 2014 totaled 176,632 units; the highest level of new registrations of Class 3-8 trucks in any quarter since Q3 2006 and up 15.5 percent from Q3 2013.

Class 8

New Class 8 truck registrations jumped by 22.3 percent in 2014 from 2013. New Class 8 truck registrations of 59,327 units were the strongest since the last quarter of 2006, when they hit 64,332 units and were highly influenced by a pre-buy as fleets rushed to purchase before the 2007 change in diesel emission standards, according to IHS.

Class 8 new truck registrations in the quarter were influenced by the registrations of new units by fleets operating more than 500 trucks. In the first nine months of this year, fleets of two to 500 trucks accounted for the largest share of new registrations, 40.4 percent, followed by fleets with 501 or more trucks at 33.7 percent, according to IHS.

Used trucks and trailers

There were 5.9 percent more used Class 3-to-8 trucks during Q3 2014 when compared to the same time in 2013. But total Q3 2014 used truck registrations – 180,569 – were down 10 percent from Q2 2014.

“With the strong level of new registrations in the past 90 days, and based on the operating procedure followed by large fleets when they obtain new vehicles, there should be an increase in used transactions in the next quarter as these used trucks reach the market,” the report said.

New trailer registrations in the third quarter, those more than 24 feet long, totaled 194,814, up 14.5 percent from the same period in 2013.

“As is the case with motorized commercial vehicles, new registrations of commercial trailers continue to recover from the low point experienced in the 2009 calendar year,” the report said. “The trailer market continues to be driven by the van segment, including refrigerated units. Vans have continued to increase share and represent 72 percent of total commercial new trailer registrations during the first nine months of the 2014 calendar year, their highest level of penetration.”

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