Used Truck News

Recent industry report about Used Truck company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Used Truck Market industry experts.

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Used Truck News

  • In April 2022, Scania introduces Scania One, a marketplace for late-model commercial vehicles such as coaches and buses, along with its Scania Go concept, which emphasizes flexibility, according to the company. Scania Go accepts vehicles up to five years old with a maximum mileage of 550,000km. Customers will be able to customize their maintenance needs through a "pick and mix" offering that includes an R&M contract proposition or a service package. Scania Financial Services will offer a variety of funding options. Hire purchase, finance lease, and operating lease are examples of these.
  • In May 2021, Volvo Trucks introduces Volvo Selected, a new platform for purchasing used trucks. Driveline coverage, service contracts, and flexible financing options are available in addition to the trucks. Volvo Selected includes search filters to help truck buyers find the right truck to grow their business, such as vehicle type and axle configuration.
  • In January 2021, PACCAR Financial launched a redesigned used truck website that features the ability to search by make, model, truck components, and miles.

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  • March 2023: Hitachi Rail secured a contract to provide digital signaling for the Chennai Metro Rail Project's Phase 2. Hitachi Rail will implement its cutting-edge communication-based train control (CBTC) system paired with Automatic Train Operation (ATO) under the INR 1,620 Cr (about. USD 200 million USD) deal, allowing services to run without a driver.
  • January 2023: Hitachi Rail signed a new framework deal with SNCF worth up to USD 81.26 million (Euro 77 million) to deliver on-board digital signaling equipment (bi-standard ERTMS/TVM) for the current generation of TGV trains (TGV-M) and existing TGV trains operating on French and European high-speed rail networks.
  • September 2022: Siemens and 16 partners were to use artificial intelligence (AI) to accelerate breakthroughs in the autonomous operation of regional trains in a project that will likely continue until the end of 2024.
  • March 2022: US-based rail technology company Wabtec introduced a sustainable, heavy-haul locomotive for Brazil's freight rail market. The ES44ACi diesel-electric locomotive will likely be first delivered to Suzano, MRS, and Rumo. Wabtec has already received contracts to provide 25 locomotives for these companies.
  • November 2022: The Dar Es Salaam port in Tanzania witnessed a remarkable annual increase of 316% in the importation of both new and used vehicles by Zimbabweans in 2022, compared to the figures recorded in 2016. As of November 2022, it was estimated that approximately 15,000 vehicles were being imported annually by Zimbabweans through this port, a significant surge from the mere 3,600 vehicles in 2016. This substantial shift in preference towards Dar Es Salaam port for shipments by Zimbabwe's used car dealers can be attributed to challenges in the South African ports' logistical operations.
  • June 2021: SBT Japan, a prominent Japanese-based online platform specializing in used cars operating in Tanzania, announced its strategic plan to incorporate the consumer-to-consumer (C2C) segment into its existing market structure. Prior to this, SBT Japan had successfully established a strong presence in both the business-to-consumer (B2C) and business-to-business (B2B) used car markets, creating a globally interconnected platform for used car exports.
  • May 2023: Toyota South Africa announced that the Fortuner and Hilux will be launched with mild-hybrid powertrains. The SUV duo is likely to be underpinned by the automaker's TNGA platform and could also make its way to the Indian market to make its global debut in 2024.
  • May 2023: Chinese manufacturer GAC launched the Trumpchi E9 hybrid MPV. There are three trims on offer. Base Pro trim costs CNY 329,800 (USD 45,170). Mid-spec Max trim costs CNY 369,800 (USD 50,648).
  • October 2021- The electric vehicle manufacturer in India, Kinetic Green Energy & Power Solutions Ltd, teamed up with Lamborghini to produce Italian-designed and India-made golf carts. The project will be carried out focusing on the global market. The company claims the sales of golf carts by 2022.
  • August 2021- Club Car announced its partnership with ezLocator, the industry leader in daily pin placement management. This new partnership enabled golfers to enjoy exact yardages seamlessly through the cloud with the new integration.
  • June 2021- E-Z-GO, a Textron Specialized Vehicles business, announced its new vehicle, the E-Z-GO Liberty, the industry's first vehicle to offer four forward-facing seats in a compact, golf-car-sized footprint. Powered by a high-performance, zero-maintenance Samsung SDI lithium-ion battery system, the Liberty provides a premium driving experience.
  • December 2022: TRADE X, the global automotive trading platform, made a significant move into the Kenyan market, catering to automotive dealers across key East African nations. This expansion, led by TRADE X, a B2B cross-border automotive trading platform headquartered in Ontario, Canada, involved the establishment of a new trading corridor in Kenya, specifically targeting the used car trading sector.
  • April 2022: Caetano Kenya, the authorized franchise dealer for Hyundai and Renault automobiles, entered the pre-owned vehicle market, offering a wide-ranging selection of brands, including Toyota, Mitsubishi, and Jeep. This established dealership partnered with the CFAO Group, the organization holding the Toyota franchise in Kenya. CFAO Group was the pioneer in commencing the sale of used vehicles through its subsidiary, Automark.
  • October 2023: Four Seasons launched service to the ocean with the launch of Four Seasons Yachts, projected to sail in late 2025.
  • January 2023: Accor announced the launch of the world's largest luxury sailing ship in 2026. The megayacht will have 54 suits.
  • July 2023: Carloha Nigeria, a global automobile company that specializes in sales and services of quality used vehicles, opened an HD Autos outlet, a new automobile shop in Lagos, Nigeria, to offer a wide range of reliable and stylish used vehicles to customers willing to purchase a used vehicle. Further, to enhance this venture further, Carloha Nigeria partnered with HD Motors, a renowned name in the automotive industry, known for its high-quality vehicles and exceptional customer service, to strengthen its presence in the used car market in Nigeria.
  • April 2023: Nigeria-based used car and financing platform Autochek acquired a majority stake in Egypt's used cars marketplace, AutoTager, to deepen its business presence across North Africa. This is the third acquisition for Autochek in less than a year and the sixth in under two years.
  • July 2022: CFAO Motors, the sole distributor of Suzuki cars in Nigeria, announced its new partnership with Autochek, an automotive technology company that makes car ownership more accessible, to give funding to Nigerians desiring to own the Suzuki range of cars.
  • July 2023: eBay announced the acquisition of two of the biggest online classified sites in Belgium for used cars, namely, 2dehands.be and 2ememain.be, to expand their presence in the European market.
  • November 2022: BCA Group, a used car marketplace operating in Belgium and other European regions, announced a strategic partnership with Nissan to support the automakers' remarketing operations in six countries in Europe, including Belgium, the United Kingdom, Italy, Germany, the Netherlands, and France). The partnership aims to augment Nissan's remarketing tools through a new used vehicle management system (UVMS) By deploying a new pan-European ecosystem of remarketing tools to improve remarketing efficiency with time-to-market reduction and better cost management.
  • July 2023: Hedin Automotive B.V., a subsidiary of Hedin Mobility Group, successfully concluded a significant deal aimed at enhancing its brand portfolio and strengthening its presence in the Dutch automotive sector. This strategic maneuver involved the complete acquisition of Renova Automotive Group B.V., encompassing all aspects of the Dutch dealership group's operations related to BMW and MINI vehicles. This encompasses the sale of both new and pre-owned automobiles, as well as the provision of aftermarket services and facilities for vehicle damage repair.
  • January 2023: AUTO1 Group, Europe's leading digital automotive platform specializing in the trade of pre-owned vehicles, announced the formalization of a lease agreement for a production facility situated in Oosterhout, North Brabant, Netherlands. This facility is dedicated to the reconditioning of second-hand cars intended for resale under its retail brand, Autohero. The decision to bring the used car production process in-house aligns with Autohero's goal of achieving comprehensive oversight at every stage of operations, serving as a fundamental element of the Group's overarching profitability strategy. The Autohero used car production center in Oosterhout spans over 3,500 square meters and has a production capacity of up to 4,100 cars per year when operating at full capacity.
  • July 2023: Mercedes-Benz Oman introduced a limited-time offer for their certified pre-owned vehicles. The Mercedes-Benz Certified Pre-Owned collection is meticulously curated, featuring top-tier used vehicles selected from the Mercedes-Benz lineup. Each vehicle in this collection meets rigorous technical standards, undergoing a comprehensive 150-point assessment performed by highly skilled technicians. This thorough evaluation encompasses examinations of both the vehicle's external and internal condition, validation of mileage, verification of service history, and on-road performance assessments.
  • October 2022: Mexico's pre-owned car platform, Kavak, announced its plans to invest USD 130 million in the GCC region, including Oman, over the next two years. This investment is aimed at establishing the leading used-car platforms in the Gulf following its merger with regional player Carzaty. Kavak, a prominent Latin American used-car dealership operating in 10 countries, such as Mexico, Brazil, Argentina, and Turkey, will initiate its GCC expansion by commencing operations in the UAE and Oman. The subsequent phases will involve extending its presence to Saudi Arabia. The planned used-car operation by Kavak in the Gulf is set to have a workforce exceeding 1,000 employees and will boast the largest vehicle reconditioning centers across the GCC.

Used Truck Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)