Construction and e-commerce are two of the most dynamic and rapidly expanding sectors of the global economy, boosting the need for trucks, vans and other commercial vehicles. As a result, commercial vehicle sales are recovering strongly after declining by three million units in 2020. Now, the output of commercial vehicles increased to roughly 23.2 million units in 2021, steadily regaining its previous level.

The Commercial Vehicles Market size is estimated at 0.85 trillion USD in 2024, and is expected to reach 1.33 trillion USD by 2030, growing at a CAGR of 7.83% during the forecast period (2024-2030). As per recent survey, Umesh G Revankar, Executive Vice-Chairman, Shriram Finance Ltd. anticipated continued growth of old commercial vehicle market in India despite rising prices. Over the past two years, prices for all types of used commercial vehicles, whether BS IV or BS VI, have increased 25-30 per cent due to insufficient supply. The subdued sales during 2019-22 have resulted in a shortage of supply in the used truck market. Less availability of vehicles and continuing increase in prices of new trucks are reported to be the key factors for growth and price hikes in the old commercial vehicle market.

Leading players in the old commercial vehicle market like SAMIL are redefining the industry with its state-of-the-art Phygital platforms and cutting-edge technologies. SAMIL has emerged as the first-choice platform for old commercial vehicles, empowering buyers and sellers across 135+ locations. It has successfully facilitated transactions for over 6,10,000 commercial vehicles till date. With a vast extended network, SAMIL has served millions of customers nationwide. Beyond transactions, the company offers a comprehensive suite of services to streamline the old commercial vehicle buying process. From customized fleet liquidation solutions, inspections & valuations, OEM drive exchange programs, and expert industry guidance, SAMIL’s TopFleet brand provides unparalleled support to both buyers and sellers of old commercial vehicle.

The old commercial Vehicle Market: Challenges and Opportunities

Longevity and Durability are the biggest doubts about old commercial vehicles contemplated by buyers. Here, the myths that old commercial vehicles have poor resale value. But the fact is with time, a newer vehicle value diminishes and there are other factors affecting its resale value including history, mileage, age, brand, fuel efficiency, and modifications. Also, the market has witnessed strong growth over the past few years for reasons including cost reduction and changing consumer tastes alongside technological advances.

Modern commercial vehicles have a much better spec, meaning more resale value is retained in low mileage examples. To counter these challenges, it is very important to have an extensive evaluation and inspection process so that the customer receives enough details regarding every part of their car. To know more about other common myths in old vehicle market, read this blog of 7 Common Myths in Old Vehicle Market

Significance of Transparency and Trust in the old commercial vehicle Market

Transparency is paramount in building trust between buyers and sellers in the old commercial vehicle market. Its crucial to record every information regarding old commercial vehicle's history, including maintenance records, accident history, and previous ownership for the customers to enjoy a hassle-free buying experience. These informed decisions will further reduce the risk of purchasing an old commercial vehicle with hidden problems.

Moreover, it becomes easier to choose the desired old commercial vehicle if you have access to the high-quality images and detailed specifications. Lastly, visual inspections by experts or professional mechanics can remove the risk of commercial vehicle thefts.

SAMIL: Your Trusted Partner for Old Commercial Vehicles

Today's discerning old commercial vehicle buyers demand a seamless, transparent, and personalized experience. In an era where information is readily available, customers seek exceptional value and efficiency and SAMIL provides detailed knowledge about your desired old commercial vehicle through its flagship brand, Topfleet. It delivers a comprehensive solution tailored to the unique needs of the customers.

Unmatched old commercial vehicle choices on our Omni-Channel Platform

Offering an expansive inventory of meticulously inspected- trucks, mini trucks, pickups, tippers, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), and trailers, TopFleet provides unparalleled choice and flexibility. Our omni-channel platform for old commercial vehicles offers a seamless Physical, Digital and Phygital auctions. Our user-friendly mobile apps, ensures a streamlined buying experience tailored to individual preferences of old commercial vehicles buyers.

Hassle-Free Buying and Selling of Old Commercial Vehicles

We simplify the complex buying or selling process of old commercial vehicle. Sellers benefit from robust valuation tools, comprehensive listing features, and the advantage of competitive bidding through both physical and online auction platforms. Buyers enjoy an extensive selection of old commercial vehicles, the ability to conduct thorough inspections, and the opportunity to secure the best possible deal through our competitive auction process.

Price discovery of old commercial vehicles through ThePriceX

As every old commercial vehicle is unique due to its different make, model, year, kilometer run, engine condition and accident history, it is very difficult to determine the price of any old commercial vehicle. This is where SAMIL comes in and ease the process of price prediction of old commercial vehicle. Supported by advanced Machine Learning algorithms, our innovative price prediction engine, ThePriceX provides real-time market data and right price prediction, empowering both buyers and sellers of old commercial vehicles to make informed decisions with confidence.

Allied Services to make Old Commercial Vehicle buying a life time experience

SAMIL also provides allied services like Parking, Inspection & Valuation, Documentation, Logistics and Finance services to make old commercial vehicle buying a seamless experience. Along with tailored solutions for old commercial vehicles, SAMIL offers a vast marketplace for other pre-owned vehicles & equipment too, hosting over 3,000 auctions monthly across 135+ Automalls. We go beyond a marketplace by offering a comprehensive ecosystem of old commercial vehicles including not just TopFleet for CVs, but also BidnBuy for cars, HeavyEquip for construction equipment, FarmXplore for agriculture, FlyByRide for two-wheelers, and Triplewheel for three-wheelers.