The demand for commercial vehicles increased even in countries hit worse by the COVID-19 pandemic, like Spain, where the growth was 41 percent in April. In Romania, the growth in demand was at 34 percent, according to Tradus data.
Tradus, the global trading exchange for used commercial vehicles in transport, construction and agricultural sectors, analyzed trading activities on its platform in April, and data shows an increase with 44 percent in ad listings in Europe. At the same time, the data shows revival in the economic activity, after the lockdown in the Corona month of March.
“The indicators show a significant increase in trading activities, which we consider to be positive. Due to the currently still subdued willingness to invest, demand is still lagging somewhat behind, but here, too, we see significant growth. The shock of March is definitely over,” says Nadja Sorgel, General Manager at Tradus.
Europe: Significant increase in trading activities – demand still lagging behind
Over the course of April, the trading platform recorded strong growth in supply (+44 percent) and a significant increase in demand (+19 percent). Agricultural machinery saw a slight shortage of supply, probably due to the fact that the season started without major disruption.
A look at the individual countries reveals great differences, which partly seem to contradict the domestic infection situation. Poland, for example, leads the country rankings in terms of supply growth despite the current rise in new infections and still strong restrictions, while Spain, which was one of the most affected countries, is optimistically developing strong demand: country where the buyers’ interest is growing, with 34 percent more views of ads in total. This shows that, locally, buyers are more willing to invest in used commercial vehicles, with the largest number in the construction field, where the interest of buyers increased with 56 percent.
“Interesting sales markets are currently Spain or Romania, as we see a lot of growth in demand and interest. On the other hand, a dynamically growing supply can be found in Poland and Germany”, says Sorgel.
She suspects that domestic trade will initially pick up, but exports will soon follow. Of this, countries such as Poland and Germany would benefit as traditionally strong export countries in this segment. As far as price stability is concerned, Sorgel sees Germany and the Netherlands in a good position, as supply and demand are balanced here.
The revival of the economy including the commercial vehicle industry is currently a major topic throughout Europe. After all, commercial vehicles are considered as the backbone of economic development. Tradus has also taken measures to stimulate the international trade in used commercial vehicles. Sellers that register now on the online exchange can use it free of charge for two months. The motto: pay one month, get two additional months free. As the online exchange enables contactless transaction processing, the offer is currently meeting with great interest.
The data was collected for nine European countries for the construction, agriculture and transport sectors. As indicators for demand, supply and trading activities, the analysts took a close look at the number of views on ads, leads and ad volume. Comparison periods: the first two weeks of April (1-15 April 2020) vs. the last two weeks of April (16-30 April 2020).