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COMMERCIAL VEHICLE REGISTRATIONS CONTINUE UPWARD TRENDBack

CVRegIt is encouraging to see that the commercial vehicle market continued to grow in May with registrations up 17.4% following the publication of the SMMT monthly registration figures this week. May marked the fifth consecutive month of growth in the truck market – while vans hit a 150,000 registrations record, giving a clear indication of growth in commerce and confidence in the UK economy.

Vans up to 3.5t were up 15.1% in May, however year-to-date the growth has been up 20.7%. The most significant growth came from the 2.5 – 3.5t sector which was up 21% in the month – these are acquired mainly by industry for goods and home deliveries rather than use as a tradesman’s vehicle in the service sector. In the first 5 months of 2015, over 150,000 total vans have been registered, this is dominated by the larger 2.5 – 3.5t vehicles that make up over half of all vans sold with 85,000 registrations year to date – demonstrating the importance of this market sector.

Truck sales were up in May by nearly 36% – similar to the first 5 months of 2015 showing an increase of 40.4%. This year there has been a significant increase in truck sales after the inconsistencies of last year brought about by changes in UK/EU legislation. Articulated tractive units showed the highest levels of growth up 58.8% for the year. These vehicles are mainly used for the distribution of goods for both retail and industry, clearly indicating operator’s confidence to invest in the future of UK PLC.

Rigid multi axle trucks registrations were also up 61% this month, and 68.3% for the year. This type of chassis is expensive and often fitted with specialist engineered bodywork; indicating a lack of investment in the previous few years through little confidence in the economy and over tight bank lending.

The NFDA and our members are confident that the commercial vehicle market will continue to grow for the remainder of 2015.

For a copy of the monthly statistics please contact louisewoods@rmif.co.uk

Posted by Sue Robinson on 05/06/2015