With the supply chain woes and low dealer inventories the industry has come acquainted with since the pandemic, vehicle acquisition has become a challenge. And in the work truck industry where not just any old pickup truck will do, finding the right vehicle is even harder. That’s where Commercial Truck Trader can help. To share his insights is Commercial Truck Trader’s Charles Bowles.
MWS: MOST OF OUR READERS ARE WELL ACQUAINTED WITH COMMERCIAL TRUCK TRADER BY NOW, BUT DO YOU MIND GIVING AN OVERVIEW FOR OUR NEW READERS?
BOWLES: Commercial Truck Trader is the industry-leading marketplace for sellers of light, medium, and heavy-duty trucks and trailers with more than 1 million monthly visitors. The service also provides a range of innovative tools to help manufacturers and dealers generate customer connections, drive sales, and maximize profits. Commercial Truck Trader is a division of Trader Interactive and belongs to the well-known “Trader” family of linked brands.
MWS: THIS ISSUE’S FOCUS IS ON WINTER EQUIPMENT AND FLEET OPERATIONS IN COLD WEATHER. DOES COMMERCIAL TRUCK TRADER OFFER SOLUTIONS FOR A FLEET COMPANY LOOKING TO PURCHASE A TRUCK AS WELL AS SNOW REMOVAL OR WINTER WEATHER-RELATED EQUIPMENT?
BOWLES: Yes! Not only does Commercial Truck Trader offer any vehicle needs your company requires while navigating the harsh winter conditions, but among our family of sites is the marketplace Equipment Trader. A quick keyword search on these sites will provide you with all of the equipment and attachments your company needs to make the most of snowy conditions.
On Equipment Trader’s blog you can also find helpful articles with tips and tricks such as “7 Tips for Staying Warm at the Worksite” and “11 Tips for Maintaining Equipment in Colder Weather.”
MWS: WE ALL KNOW ABOUT THE SUPPLY CHAIN AND PRODUCTION WOES THAT PLAGUE THE AUTOMOTIVE AND TRUCKING INDUSTRY. WHAT ADVICE OR SOLUTIONS WOULD YOU OFFER FLEETS WHEN THEY EXPERIENCE A SUDDEN BREAKDOWN AND ARE IN IMMEDIATE NEED OF A NEW TRUCK THAT CAN ACCOMMODATE SNOW REMOVAL EQUIPMENT?
BOWLES: In times of supply chain disruptions, having a diverse option of suppliers can be beneficial. With sites like Commercial Truck Trader, you are able to easily compare what’s available to you on the market and expedite the search process immensely.
It’s also important to plan and prepare. Although it may not always be possible to predict breakdowns, having contingency plans in place for such emergencies can be helpful. Create a detailed emergency response plan that outlines the steps to be taken when a vehicle breaks down unexpectedly.
If you are not prepared to make a purchase, consider exploring rental or leasing options to temporarily replace the broken-down truck while you explore options to buy. Many truck rental companies offer snow removal equipment-friendly vehicles that can serve as a stop-gap solution until a permanent replacement is available. This gives you a great opportunity to test out a new truck prior to making the step of purchasing.
MWS: CAN YOU SHARE ANY REAL-LIFE SCENARIOS WHEN A FLEET WAS IN A PINCH, NEEDED TRUCKS AND EQUIPMENT IMMEDIATELY, AND COMMERCIAL TRUCK TRADER HELPED?
BOWLES: There are times when a fleet finds itself in immediate need of a replacement unit. Commercial Truck Trader (CTT) dealers have a powerful tool in their hands, called the Wholesale Industrial Network (WIN) that enables dealers to buy and sell wholesale units amongst themselves. WIN is a private, password-protected, non-consumer-facing platform that is available as part of a dealer’s subscription to CTT and is accessed through the dealer’s TraderTraxx backend tool on CTT. Dealers are able to display inventory that they are willing to wholesale to other dealers. There are currently 2,000 trucks and 700 trailers listed on WIN. It’s a powerful tool that enables dealers to quickly search nationwide for units to help a fleet get back on track quickly.
MWS: SPEAKING OF THE SUPPLY CHAIN, CAN YOU OFFER ANY INSIGHT ON WHEN WE’LL SEE THE ISSUES BEGIN TO LEVEL OUT?
BOWLES: We’re starting to see some data points that are pointing to an easing of the supply chain throughout all classes of trucks. On-lot dealer inventories are growing, and the average availability of units is increasing. For example, we are seeing a 31% rise in the average daily listings per dealer in July 2023 versus the same period last year. We’re ingesting reports that point toward growth in Days’ Supply, as well. As inventory increases, dealers are beginning to reinstate strong marketing and merchandising programs to capture buyers, particularly as residual values are normalizing.
MWS: CAN YOU SHARE INSIGHT OR OTHER PREDICTIONS ABOUT WHERE THE COMMERCIAL AND WORK TRUCK INDUSTRY IS HEADED IN THE NEAR FUTURE?
BOWLES: There’s a movement toward pre-ordering of new units, which is good from a production and delivery perspective, but it also has the unintended consequence of impeding share growth, as fewer units are available on dealer lots. Smart dealers are still making sure that they have a good supply of inventory on their lots so that they can take advantage of sales from buyers who cannot wait months for a new unit. This is where marketing through third-party marketplaces like Commercial Truck Trader drive share growth for both dealers and manufacturers.
The number of used units returning to the market will continue to place downward pressure on prices, requiring dealers to be smart about taking back off-lease and trade-in inventory. This requires a faster turn in order to make sure that they don’t quickly become upside down with a unit.
FOR MORE INFORMATION
Charles Bowles is the director of commercial truck OEM and strategic initiatives for Trader Interactive working with top executives at some of the world’s largest companies to build strategies to market their products. He was instrumental in the launch and growth of Commercial Truck Trader’s position in the industry. He has presented at numerous commercial truck national events, is a subject matter expert for the industry, and has presented on digital best practices to countless companies and organizations. Find out more, visit www.commercialtrucktrader.com.
