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COMMERCIAL VEHICLE MARKET STABILISES FOLLOWING 65-PLATE CHANGEBack

CVRegFollowing last month’s plate change, the October commercial vehicle market has remained stable with a -2.9% decline in the month.

It is positive to see that the year-to-date market has remained strong and is up 16.7%. Van demand was up 6.2% in the month, whilst truck demand was down -31.5%.

Sales of mid-sized vans (2.0-2.5t) – usually purchased by self-employed tradesman and semi-retail customers were down -26.6%. Buyers of these particular models are more likely to have made their purchases last month in order to obtain the new 65-registation plate.

On a more positive note, registrations of larger vans (2.5-3.5t) posted a healthy 17.5% growth – posing similar to the year-to-date growth of 21%, fuelled by increasing consumer confidence and an on-going trend of online shopping and home deliveries.

In the truck sector, ridged chassis trucks declined significantly by -45.1%. The current delays from the DVSA in getting type approvals via IVAs could be delaying registrations in this particular sector, as these models require bodywork fitted.

It is expected that the CV market will remain buoyant for the remainder of 2015.

If you would like to receive a copy of the monthly registration figures please send your request to louise.woods@rmif.co.uk

Posted by Leana Kell on 06/11/2015