SOUTHFIELD, Mich. -

Polk discovered on Wednesday that 2011 used commercial vehicle registrations reached a record level for a calendar year, ending up at 791,288 units.

The total surpassed the previous record of 671,887 units registered in 2010, and the rise represented a 17.8-percent increase in year-over-year registrations.

Polk’s analysis of new and used commercial vehicle registrations (GVW 3-8) in the U.S. also uncovered the fact that 1.25 million units were registered during the 2011 calendar year.  

Analysts determined that figure left 2011 ranking third in the total number of commercial vehicle registrations in a single calendar year since Polk began tracking this information in 2004. The current record of total commercial vehicle registrations in a calendar year is 1.35 million units in 2005.

“Good quality used commercial vehicles continue to be in high demand as shown by the record level of used vehicle transactions reported during each of the first three quarters 2011,” explained Gary Meteer, account director for commercial vehicle solutions at Polk.

“However, our analysis of fourth quarter 2011 activity shows evidence of a shortage of good clean equipment,” Meteer continued.

Polk indicated fourth-quarter used registrations were down 4.1 percent from the comparable quarter in 2010.  Furthermore, GVW 8 used registrations during the fourth quarter of the 2011 calendar year were down 22 percent from the fourth quarter of 2010.

“This strong demand for both new and used commercial vehicles is a positive sign that businesses feel comfortable enough about their plans to update older equipment,” Meteer surmised.

“The close of the 2011 calendar year is a solid foundation on which to build for 2012,” he projected.

Polk reiterated that its process for commercial vehicle reporting is unique as it requires both a change in the business name and address of the vehicle registration to be counted as a used registration.

In all categories except GVW 8, analysts found used registrations for 2011 were significantly higher than in the 2010 calendar year.

Registrations among used GVW 3-7 vehicles were higher in 2011 than in 2010.

In addition, the increase in calendar year registrations since 2010 ranged from a high of 53.5 percent for GVW 4 vehicles and a low of 4.8 percent for GVW 7 vehicles. 

“Polk has been providing commercial vehicle data to the industry for decades and first began reporting used and new registration information in 2004,” analysts emphasized.

“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,” they continued. “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.”

Used Commercial Vehicle Registrations for Calendar Year 2011
 VIN-Defined Gross Vehicle Weight  2011 Calendar Year Registrations  Percentage Change from 2010 Calendar Year Registrations  2011 Calendar Year Percentage Share of Used Commercial Vehicle Market
 GVW 3  229,009  49.1  28.9
 GVW 4  71,931  53.5  9.1
 GVW 5  38,900  48.4  4.9
 GVW 6  71,966  31.8  9.1
 GVW 7  73,966  4.8  9.4
 GVW 8  305,516  – 4.5  38.6 
 Total  791,288  17.8  100.0