ThePriceX Insights Report for Used Commercial Vehicles: January 2024 - Released

This edition of ThePriceX Insights Report delves into the exchange data of used commercial vehicles – Goods Carriers, spanning the past 24 months (October 2021 – September 2023) across SAMIL locations nationwide. In addition to its established reputation in passenger vehicles, agricultural and construction equipment, SAMIL boasts a robust presence in the commercial vehicle sector, catering to OEMs, Banks, NBFCs, Insurance companies, Vehicle Aggregators, Transport organizations, and Retail & Rental businesses.

Leveraging this report empowers you to stay ahead of the curve with the latest trends and data in the used commercial vehicle market, enabling informed decision-making. Since January 2023, SAMIL has facilitated the sale of over 50,000 used commercial vehicles nationwide. This quarter's report, dedicated to Q2 FY 2024, meticulously outlines a diverse array of commercial vehicle assets, including Trucks, Trailers, Pick Up Trucks, and various Goods Carriers transacted at SAMIL.

Our analysis delves into price trends over the past five years, identifying top-performing assets, volume trends, and destination patterns within the commercial vehicle market. Join us as we embark on this insightful journey, collectively drilling into the nuanced details that await discovery."

USED COMMERCIAL VEHICLE MARKET FUTURE OUTLOOK AND PROJECTIONS

The future of the Indian used commercial vehicle market will be shaped by three key trends: technology integration, online platforms and digital transactions and flexible financing options. These trends aim to enhance efficiency, streamline processes and cater to evolving customer needs. As stakeholders navigate this evolving landscape, proactive engagement with these trends will be essential for success, particularly within the dynamic environment of Shriram Automalls' commercial vehicle segment. Embracing sustainability, technology integration, and adapting to changing preferences will set businesses apart and drive them towards success in this rapidly evolving market.

The vast market of used Commercial Vehicles consisting of vehicles belonging to different payload capacities and body types, thus to make it easier to understand, Insights Report have been divided into price trends focusing on each body-type. This report consists of Small Commercial Vehicles (SCVs) consisting of Mini Trucks and Pickup Trucks, Light Commercial Vehicles (LCVs) and Medium and Heavy Commercial Vehicles (M&HCVs) that comprises of Intermediate Commercial Vehicles (ICVs) and Heavy-Duty Haulage Trucks.

ThePriceX Insights Report Commercial Vehicles: Goods Carriers Body Styles covered:

·         Small Commercial Vehicles (SCVs) - Mini Trucks and Pickup Trucks

·         Light Commercial Vehicles (LCVs) – Light Trucks

·         Medium and Heavy Commercial Vehicles (M&HCVs) - Intermediate Commercial Vehicles (ICVs) and Heavy-Duty Haulage Trucks

THEPRICEX INSIGHTS REPORT OVERVIEW

In this comprehensive Insights Report, we delve into the dynamics of the used commercial vehicle market, highlighting key trends and price performance across different segments. Let's explore the highlights from the latest edition:

Small Commercial Vehicles – Mini Trucks (GVW 1.5t to 2t)

Used Mini Trucks within this weight category have demonstrated remarkable strength, with prices registering a substantial increase. Factors contributing to this hike include increased dependence on last-mile connectivity, economic viability, and enhanced payload capacities.

Small Commercial Vehicles – Pickup Trucks (GVW 2t to 3.5t)

The pickup trucks and crew cabs segment has exhibited strength in prices, showing a notable increase throughout the research period. These vehicles, with a GVW falling in the range of 2 tons to 3.5 tons, cater to various transportation needs efficiently.

Light Commercial Vehicles (LCVs) – Light Trucks (GVW 3.5t to 7.5t)

Used light trucks, vital for intercity deliveries of larger payloads, have seen consistent price increases, reflecting amplified demand driven by ongoing urbanization trends and infrastructure projects.

Medium and Heavy Commercial Vehicles (M&HCVs) – Intermediate Commercial Vehicles (GVW 7.5t to 16t)

Intermediate commercial vehicles, with a GVW ranging from 7.5 tons to 16 tons, have witnessed a strong surge in prices, attributed to their higher load hauling capacities and greater manoeuvrability.

Medium and Heavy Commercial Vehicles (M&HCVs) – Haulage Trucks (GVW 25t to 28.5t)

Trucks with 10 wheels and a GVW of 25t to 28t have experienced substantial price increases, driven by heightened demand for robust vehicles capable of handling medium to heavy-duty loads.

Medium and Heavy Commercial Vehicles (M&HCVs) – Haulage Trucks (GVW 31t to 36t)

The haulage truck segment with GVW 31t - 36t, is one of the only few segments that has experienced a discernible decrease in the demand and this intricate interplay of these factors sets the stage for a dynamic future within the haulage truck market, necessitating astute observation and strategic anticipation by industry stakeholders.

Medium and Heavy Commercial Vehicles (M&HCVs) – Haulage Trucks (GVW 37t to 43.5t)

With the highest GVW ranging from 37 tons to 43.5 tons, this haulage Trucks segment has shown a slight reduction in prices, reflecting potential shifts towards more sustainable options.

CONCLUSION

This was the essence of latest edition of ThePriceX Insights Report January 2024. SAMIL’s ThePriceX Tool uses machine learning algorithms, simultaneously evaluating a vehicle based on 100+ element including make, model, age, mileage etc., to estimate the right price range. Price indexes are validated by correlating with key industry metrics in a bid to separate the degree of change in used vehicles & equipment prices over time.

The Insights Report highlights important elements, latest trends, up-to-date information, reviews & outlook of the used vehicles & equipment sold in a particular tenure at SAMIL exchange platform.

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