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CV Market Strong as Van Demand Rises for Ninth Month in 2015

By Maddy Price
Thursday, November 5, 2015 - 14:03

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SMMT

The UK commercial vehicle market remained steady in October, with a small 2.9% decline in registrations. This reflects a return to business as usual following exceptional demand in the same month last year that was driven by impending regulatory changes. Figures for the year-to-date show overall growth of 16.7% compared with 2014, with a total of 355,301 vehicles registered.

The British van market continued to thrive, as demand rose 6.2% compared with October 2014. 312,369 new vans have been registered so far in 2015 – 16.3% more than this time last year, and fuelled by increasing business confidence and the ever-growing popularity of online shopping.

Truck registrations remained strong, up by nearly a fifth in the year-to-date, with 42,932 new vehicles registered in the first 10 months. An unprecedented spike in heavy duty demand last October, coinciding with the introduction of the Euro-VI emissions standard, caused this month’s figures to appear considerably lower in comparison, falling 31.5%.

Mike Hawes, Chief Executive, SMMT, said, “The van and truck market remains strong, with remarkable growth across all commercial vehicle types so far this year. The rise in demand for vans demonstrates an ongoing trend as more consumers choose the convenience of home delivery.

“Meanwhile, following an exceptionally strong October in 2014, it’s no surprise to see a decline in last month’s truck market. To put this into context, at 5,791 registrations, this October’s performance is more than double the average monthly total of 2,720 delivered by the market since 2001.”

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UK van and truck registrations: 2015 and % change on 2014

October % change Year-to-date % change Rolling year % change
Vans 28,208 6.2% 312,369 16.3% 365,414 17.0%
Trucks 5,791 -31.5% 42,932 19.8% 48,559 -7.7%
Total 33,999 -2.9% 355,301 16.7% 413,973 13.5%

 

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