Work Truck Solutions has released its 2023 Annual Commercial Vehicle Market Analysis.
Work Truck Solutions says the commercial vehicle market has seen remarkable changes over the recent years, but for informed stakeholders, most post-pandemic trends have not been completely unforeseen. Work Truck Solutions' reports for 2021 and 2022 offered data-driven insights into how the sector was overcoming labor shortages, manufacturing shutdowns, and inventory challenges. In addition, data concerning price changes, inventory levels, days-to-turn, and mileage were analyzed and confirmed a slow-but-steady recovery.
Amid the dramatic shifts in inventory numbers, Work Truck Solutions says one element of the commentary has remained consistent; business owners continue to need and purchase commercial vehicles no matter the circumstances around them.
Work Truck Solutions' new commercial vehicle data for 2023 trends include:
Work Truck Solutions also notes that although new inventory levels outpaced movement growth, which likely caused the increase in DTT, work trucks and vans carried higher price tags than last year, and the total sales of new commercial vehicles increased significantly.
The company says some used commercial vehicle data trends for 2023 included:
The company also notes the future of the commercial vehicle market is in the very early stages of alt-fuel transformation, in large part being driven by net-zero regulations and mandates.
