TORONTO- Used truck sales for classes 3 to 8 vehicles hit 711,000 units in 2014, the second-highest number on record, according to industry analysts at IHS Automotive.

Used transactions were up 4.6 percent over the 2013 calendar year and accounted for 52 percent of total combined commercial vehicle transactions in the 2014 calendar year.

“Clean used commercial vehicles remain in strong demand, even with the continued strengthening of the demand for new commercial vehicles,” said Gary Meteer, director, commercial vehicle solutions for IHS Automotive.

The only higher number of used truck sales was in 2011, when sales hit 791,000 units.

“The main challenge continues to be the availability of clean used equipment in the configuration required by small- to mid-size businesses looking to either replace older equipment or add to their fleet,” Meteer said.

Used transactions within each vehicle weight class increased over 2013.  Classes 3 and 8 vehicles remain the largest segments among used transactions, accounting for 30.8 percent and 38.1 percent of all used transactions, respectively, he said.

Class 8 was the largest single segment of the used-truck market last year, accounting for 271,000 units, again the highest number since 2011. In 2010, the number of Class 8 deals was even higher – 320,000 units – which represented the start of the recovery for commercial vehicles after the market bottom was reached in the 2009 calendar year. 

Overall, used commercial vehicle transactions among all weight classes last year improved over 2013 volumes and share, based on strong demand for low-mileage vehicles and an increase in trade-in volumes.