NFDA Optimism Continues Based on SMMT Data
The director of the National Franchised Dealers Association (NFDA) had upbeat comments about the latest commercial vehicle market numbers released by the SMMT. Sue Robinson said, “It is positive to see that demand for commercial vehicles grew 27.0% in October to 35,027 units, driving the market up 14.1% to surpass 300,000 units. Her organization represents both franchised car retailers and commercial vehicle retailers throughout the United Kingdom, and pays close attention when the SMMT releases its period van and truck registration figures.
The numbers that she was commenting on reflected continuing strong performance in the van market, with October showing an increase of 18.2% over the previous month and up 18.1% year to date. This continued growth is a strong indicator of continuing confidence on the part of the retail and service segments of the economy.
Robinson was also pleased to see that commercial truck registrations rose a remarkable 65.7%, and SMMT chief executive Mike Hawes echoed her sentiments while adding to the enthusiasm about van registrations, saying that they “also performed well, yielding solid growth for the total commercial vehicle market.”