July used truck market is filled with young low-mileage trucks

Last month we speculated that due to a low base the market in July would be up despite it being a traditionally quiet month. Well, there’s nothing more vindicating than being 100% correct.

July might be the month the schools shut down, the time when you’re in the garden more than work, and a chance to get out of the office for a week or more in the sunshine, but clearly for truck buyers there’s no such thing as a well-earned break.

Classified listings on commercialmotor.com were up by 9.3% – a good return considering that June was already a growth month and up by 7.4%. As a result, there are many more healthy statistics to share with you this month, but it’s important to remember that despite the increase in views, we’re not yet back to the highest levels of 2023. That’s not to say that the market isn’t an interesting place to be – especially if you’re a buyer.

Prices have really begun to level out, premiums are gone, and (dare we say it?) there are bargains to be had. Anything of a young age and low mileage is selling well, but they’re no longer commanding premiums – which once put them on an equal footing with brand-new units. There’s still pressure at the lower end of the market, though. Older fleet trucks, particularly those scheduled for renewal in the Covid/ semi-conductor supply issue period, are looking very long in the tooth, some with unattractive mileages. That, we’re told, is continuing to cause pressure on pricing, widening the gap between the more desirable trucks and less wanted vehicles.

Anyway, back to the numbers, where it has been a month of double-digit rises in search enquiries for everything except trailers. While rigid trucks were up 10.1%, tractor units up 20.1% and vans up 28.2%, trailers languished at the back of the pack with a mere 2.4% increase in searches in the month of July.

A positive month of growth often leads to a mixed bag of up and down percentages the following month, but July has shrugged that notion off with strong interest in all of the most in-demand individual body types.

Tipper trucks sat on top, as usual, with a 33.5% increase in traffic to listings, while tanker vehicles retained second position with a 24.2% increase. Third spot, however, was handed over by crane vehicles to grab tipper trucks, after they notched up an impressive 38.6% increase compared with crane vehicles, which managed just 17.6%. Other big movers inside the top 20 body types included hook-loaders (+60.8%), low-loaders (47.4%) and step-frames (46.5%).

The manufacturers saw huge increases again, Scania retaining its top position with a 45.6% increase. Volvo pushed it hard with a 53.2% improvement, while DAF put up a respectable effort with 35.2%, but MAN managed to turn in the largest percentage gain month-on-month with a 68.8% increase, making it two months in a row, after rising 63.3% in June.

If the growing numbers of the manufacturers reflect increasing interest in the traditional big tractor unit players, then the views of individual models hammers home the point, with some truly barmy gains. Volvo’s FH leads the bunch with a 74.5% increase, beating the Mercedes-Benz Actros, which cements its ascent into second place last month with a 30.7% gain. The big Merc, however, only just clings to its position, however, as hot on its heels with just 100 fewer views are listings for Scania’s S-series, which rose by an impressive 71%. For the really large gains, however, it’s the mid-table models that have seen the greatest interest. Steady performers like the DAF XF (+103%) and Scania P-series (145.3%) have seen even higher levels of interest than usual. An honourable mention, however, needs to go to the Ford Transit Custom, which had 117% more views in July than June. The 28.2% increase in overall van views obviously had a disproportionate effect on Britain’s best-selling van.

 And finally, to the top spot for individual models – or the podium positions. Yet, there are no surprise results for our classified Olympians, as taking gold is a Volvo FH, albeit a 500 Globetrotter with I-Save, rather than a more typical V8 that’s accustomed to the top rung. Silver goes to another FH, this time an even more typical 6x2 mid-lift. Bronze goes to yet another Volvo FH, albeit slightly older than the others, wearing a 19-plate compared with 21- and 22-plates for our gold and silver medallists.

The French managed a 1, 2, 3 in the BMX in Paris – we’re drawing no comparisons between the FH and grown men on children’s bikes – a commendable achievement in any field, but a regular occurrence for the FH in our classifieds.

- This article was previoulsy published in Commercial Motor, to subscribe see the latest Commercial Motor subscription offer