Market Share of Used Truck Industry
The growth in used truck sales will hinge on strong improvements in cargo availability in the coming years, as the market is projected to grow. The pre-owned or used truck market was expected to see some spurt in sales due to the highly-priced new trucks and prevailing sluggish economic activity. A healthy freight market, a subdued volume of trade-ins, and tougher availability of new trucks have combined to push demand for used trucks upward.
Key players operating in the used trucks market are Scania, Mercedes-Benz, Renault, Mascus, and Volvo Trucks, among others. With the incorporation of advanced technologies, including IoT, AI, smart navigation systems, and accident prevention technologies, manufacturers are focusing on launching new products in order to stay competitive in the market. For instance,
- In August 2020, Scania trucks launched a new 108-point check-up program for a used trucks. Scania Benelux predicts increased used truck sales with the help of 108-point inspections, a "Scania Talent" program, and an interior UV treatment.
Used Truck Market Leaders
*Disclaimer: Major Players sorted in no particular order