Commercial Vehicle Market Tightens as New Supply Drops 21% YoY
Event summary
- New commercial vehicle inventory per dealer fell 20.7% QoQ and 21.2% YoY, with sales dropping 25.8% QoQ.
- Used commercial vehicle prices rose 4.8% QoQ and 6.3% YoY, while Days to Turn increased 12.7% YoY.
- New BEV work truck sales declined 17.6% QoQ but rose 33.3% YoY, reflecting mixed adoption trends.
- Work Truck Solutions attributes supply constraints to potential tariff impacts and upstream cost pressures.
The big picture
The commercial vehicle market is shifting from a period of strong inventory levels to tightening supply, with downstream effects on used vehicle pricing and turnover. Work Truck Solutions suggests these changes may stem from upstream cost pressures, including tariffs, signaling broader supply chain challenges. The new vehicle segment, particularly BEVs, continues to evolve at a different pace, reflecting mixed adoption trends.
What we're watching
- Supply Chain Pressures
- How tariff-related cost and sourcing challenges will further impact new vehicle availability.
- Used Market Dynamics
- Whether higher prices and longer Days to Turn will deter used vehicle buyers.
- BEV Adoption Pace
- The pace at which commercial BEV demand stabilizes amid broader supply constraints.
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