Business View Magazine March 2023

11 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 3 WORK TRUCK SOLUTIONS: 2022 ANALYSIS & REVIEW OF THE COMMERCIAL VEHICLE MARKET Source- constructionbusinessowner.com , First published January 26, 2023 Work Truck Solutions, an authority on commercial vehicles, released their 2022 analysis of the commercial vehicle market. Work Truck Solutions is the only company that collects national data reflecting the customization of commercial vehicles done after the chassis or van is manufactured by an original equipment manufacturer (OEM), which defines their unique commercial use case. Data for commercial vehicle (CV) sales compiled for 2022 confirmed much of what was anticipated, along with a few positive surprises. Average prices, availability, mileage and days to turn (DTT) confirmed what was expected: the story of a supply chain devastated by a global pandemic. The silver lining is a slow but steady recovery marked by four quarters of positive trends. The first quarter of 2022 may have been the turning point in the health of the automotive supply chain, and the outlook for the coming year is for continued recovery, although likely at a slow pace as there are still supply chain hurdles to overcome. Availability of new vehicle inventory is, of course, a prime concern for dealers and business owners alike. • The good news for 2022 was that new on-lot CV inventory per dealer was up 36% in Q4 compared to Q1. • Although the total numbers were still approximately half of what they were in Q4 2020, the averages reveal an upward direction throughout 2022, a trend unseen in the previous two years. • When examining used work trucks and vans, there were a couple of key takeaways. OPENING L INES