Cox Automotive's New and Used CV Market Forecast: Key Insights for Buyers

White commercial van speeding through city, highlighting market forecast.

What the Future Holds for the Commercial Vehicle Market

As 2025 approaches, new insights from Cox Automotive reveal expected trends in the commercial vehicle market that industry professionals should take note of. The forecast indicates a decline in new van registrations, projecting a total of 320,380 new vehicles, which represents a significant Year-over-Year (YoY) drop of 11.3% compared to 2024. In contrast, the used van market is showing more resilience, with transactions anticipated to reach 999,678, marking a year-on-year decrease of just 0.9%, but an impressive 11.9% increase over 2019 levels.

Dynamics of the Used Vehicle Market

The director of commercial vehicles at Manheim UK, Matthew Davock, provides insight into the challenges faced by the used vehicle market. He notes that higher mileage vehicles continue to struggle with valuations due to longer fleet replacement cycles and a variation in the condition of vehicles. Furthermore, disparities between supply and demand in segments such as small vans and 4×4 pickups could influence market values moving forward.

The Electric Vehicle Influence

Electric vans are beginning to transform the landscape, with a remarkable 55.5% increase in registrations year to date, totaling 15,954 units. Despite making up only 8.8% of the new van market, electric vehicles are trailing behind the Zero Emission Vehicle (ZEV) mandate target of 16% for 2025. The transition to electric vans reflects a growing demand; however, residual values in the used electric van market remain volatile. Current buyer hesitancy stems from concerns around cost, range anxiety, and limited transaction data.

Adapting to Market Changes

As we witness these evolving market conditions, it’s crucial for dealers and consumers alike to adapt. Understanding the trends in both new and used commercial vehicles will prepare stakeholders for shifts in market dynamics. With evolving consumer preferences, particularly towards electric vehicles, the importance of flexibility in inventory management and marketing strategies cannot be overstated.

In conclusion, as the commercial vehicle market navigates these challenges, staying informed about current trends and future forecasts will empower buyers and sellers alike in making the best decisions. Ensure you engage with the latest data and adapt your strategies accordingly to thrive in this ever-changing environment.

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Cox Automotive's New and Used CV Market Forecast: Key Insights for Buyers

What the Future Holds for the Commercial Vehicle Market

Dynamics of the Used Vehicle Market

The Electric Vehicle Influence

Adapting to Market Changes

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