In response to economic pressures, logistics companies are increasingly opting for used trucks, a trend driven by significant price hikes in the vehicle market. According to industry reports, prices for light commercial vehicles have surged in recent months. Vehicles in the 1.5 to 2 tonne segment saw prices rise by 38%, while the 2 to 3.5 tonne and 3.5 to 7.5 tonne categories experienced increases of 22% and 21%, respectively. Even heavier trucks in the 31 to 36 tonne range saw notable price increases, partly due to limited availability. Ashutosh Pandey, CEO of a leading automotive entity, noted the shift towards used trucks among smaller fleet operators. “Over the past year, smaller logistics fleets have increasingly turned to used trucks due to rising operational costs and inconsistent freight rate increases,” Pandey explained. “Used trucks offer a significant cost savings, typically being 40% cheaper than new ones.”
This trend has been gaining momentum for nearly two years, exacerbated by a slowdown in new vehicle sales from 2019 to 2022. A spokesperson from the industry highlighted, “Prices of used commercial vehicles, whether BS IV or BS VI, have risen by 25-30% during this period, reflecting a shortage in the used truck market.” As new vehicle prices continue to rise, the demand for used trucks is expected to remain strong. The availability of current new models in the used vehicle segment is likely to drive continued growth in this market.
#ICTTMNews #BreakingNews #LogisticsCosts #UsedTrucksMarket #SupplyChainUpdates #TransportationNews #LogisticsTrends
