New commercial truck registrations (Class 3-8) were down 40 percent for the first quarter of 2009 compared to the same period in 2008, according to the Polk Commercial Vehicle Market Intelligence Report.
This is the lowest registration quarter since 1991, and for Class 8 models, March has been the worst month since Polk started keeping these records in 1985. These declines come on the heels of an overwhelming drop in demand.
However, Polk predicts the rest of 2009 will gradually increase, with the expectation that registrations for new Class 3-8 trucks will be in the area of 367,500 units for the calendar year, still down 24.5 percent from 2008. Last year, total registration of commercial vehicles was at 486,800. Registration was down in all fleet sizes and categories.
The U.S. region that saw the most significant decline was the West, which was down 43.8 percent from the first quarter of 2008. The South was down 42 percent from the same period, despite being the largest region for commercial vehicle registrations.
The Canadian market for registrations dropped by 37.3 percent from the first quarter of 2008. The index indicates 2009 will see 48,000 units registered in Canada, which is about 42 percent lower than 2006 levels.
The index also found that new commercial trailer registrations decreased 62.5 percent in the first quarter. The number of commercial vehicles registered for use was 11,733, a rise of only 189,000 units in the last 12 months. This could be an indicator that the business is in replacement mode, the report said.
Download a copy of the report at www.polk.com/TL/PolkAR_CVR_200905.pdf.
This is the lowest registration quarter since 1991, and for Class 8 models, March has been the worst month since Polk started keeping these records in 1985. These declines come on the heels of an overwhelming drop in demand.
However, Polk predicts the rest of 2009 will gradually increase, with the expectation that registrations for new Class 3-8 trucks will be in the area of 367,500 units for the calendar year, still down 24.5 percent from 2008. Last year, total registration of commercial vehicles was at 486,800. Registration was down in all fleet sizes and categories.
The U.S. region that saw the most significant decline was the West, which was down 43.8 percent from the first quarter of 2008. The South was down 42 percent from the same period, despite being the largest region for commercial vehicle registrations.
The Canadian market for registrations dropped by 37.3 percent from the first quarter of 2008. The index indicates 2009 will see 48,000 units registered in Canada, which is about 42 percent lower than 2006 levels.
The index also found that new commercial trailer registrations decreased 62.5 percent in the first quarter. The number of commercial vehicles registered for use was 11,733, a rise of only 189,000 units in the last 12 months. This could be an indicator that the business is in replacement mode, the report said.
Download a copy of the report at www.polk.com/TL/PolkAR_CVR_200905.pdf.
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