Commercial Vehicle Confidence Continues to Rise
The SMMT has released its latest van and truck registration figures, and they continue to tell a positive tale for those in the commercial vehicle market. The statistics for year-end 2013 show a dramatic 14.7 percent increase in the commercial vehicle market, with van growth rising by 13.1 percent over 2012. The increase got a big bump from December’s truck registrations, which grew by 32.5% over the previous year.
One of the reasons that December’s numbers showed such a dramatic improvement was the switch from the Euro 5 emission standards. The surge was anticipated, though nobody expected that the change would result in a 217% increase over December of 2012.
Improvements were shown in all commercial vehicle sectors, with the biggest increase coming in the over 16t category, which showed a 465% increase over the previous year, while the 3.5t sector was up a respectable 23% for the year.
Perhaps creating the most optimism for a healthy economic boost in 2014 was the surge in commercial van registrations in December 2013. The sub 3.5t sector increase of 32.5% for December and 13.1% for the year is a strong indication of an improved economic outlook for all industries in 2014.
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