Brian Kempson, sales director for truck and trailer sales at Asset Alliance Group looks back at the past year in the used truck market.
How has the used truck/trailer market been in 2023?
To put it in perspective you have to look at 2022, which was an extraordinary year for the used truck market. In 2023, there was a serious market realignment, with the shortage of new trucks compounding the challenges.
What have been the challenges in the used truck market this year?
In 2022, operators found it hard to source new trucks due to availability issues and people were cancelling orders. On the back of that, they turned to second-hand options and the used truck and trailer market picked up. We knew there would have to be realignment and forecast accordingly. The market dropped off around March; the shock was how quickly that downturn happened and never picked up. We had a great reliance on the fact that we have an excellent sales team and a loyal customer base. We worked hard on ensuring the added-value was clear through our service, finance and marketing to maintain a steady business flow throughout this period.