By June of 2016 it’s possible we could be drowning in used trucks as supply far surpasses demand. What’s the reason behind this glut?
If you’re seeing less interest in fleets to purchase your used trucks, you’re not alone. Dale Tower, AmeriQuest’s Vice President of Remarketing Services, is only too aware of the shifting used truck market. Last week, monitordaily.com posted Dale’s blog, Clouds Loom Over Used Truck Market, which details a troubling likelihood where the supply of used trucks greatly surpasses the demand.
This concern about “future used trucks” is partly the result of the fact that in 2011, truck manufacturers started to produce trucks in greater and greater numbers. Prior to that, especially in the years 2007 to 2010, production of trucks went down sharply, thus creating greater demand for used trucks. So manufacturers saw a great business opportunity and increased production. But, as the saying goes, “be careful what you wish for.”
In his blog, Dale discusses how fleet owners can deal with this issue, providing a number of options. He also offers some common-sense advice on what fleets should do to make their used trucks more desirable in an increasingly competitive market.