Year-Over-Year Commercial Vehicle Registrations on the Rise
According to the latest report released by the Society of Motor Manufacturers and Traders (SMMT), the number of commercial vehicle registrations has increased by 16.4 percent year to date as compared to figures from 2013, with the increase for the month of June growing by 25.5 percent year over year. The total number of commercial van registrations between January and June of 2014 reached 344,762. The van market also showed similar growth, with a 33.3% increase for the month of June and 16.8 percent increase for the year.
According to Mike Hawes, SMMT chief executive, ”The van market has shown another strong performance in June, yielding higher-than-expected growth for the year so far. This has helped the total commercial vehicle market achieve half-year growth of more than 11%, despite a somewhat depressed truck sector. Trucks continued to decline in the first six months of the year in the wake of an extremely strong end to 2013, ahead of the introduction of Euro-6.”
The figures bode well for the economy, and Sue Robinson, director of the National Franchised Dealers Association, agrees. She said, “June has been a good turning point in the year for the commercial vehicle market, and we have seen a modest improvement in overall sales figures. Looking ahead into the second half of the year, dealers are optimistic that the van market will remain healthy.”
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