February CV market – modest growth
- February commercial vehicle (CV) registrations up 3.9 per cent
- Main growth was in light CV sector – up 4.7 per cent – as in January
- Two axle rigid trucks up 14.3 per cent; artics up by 3.7 per cent
- Buses and coaches down 34.4 per cent
Figures from the Society of Motor Manufacturers and Traders (SMMT) today show
overall commercial vehicle registrations for February 2001 ahead of February
2000. Strong growth in light and heavy vans gave the growth this month. though
bus and coach registrations continue to drop sharply. Total CV registrations
at 14,838 were 561 vehicles or 3.9 per cent ahead of those in the same month
last year.
Overall market
The February market is likely to account for about five per cent of the total
registrations in 2001. There was strong year on year growth of 11.5 per cent
in light vans up to 1.8 tonne (GVW) and of 16.9 per cent in heavy vans from
2.6 to 3.5 tonnes. The latter sector has now grown strongly since the summer
of 1999. This complemented growth in other sectors, but more recently balanced
sharp drops in some other CV sectors.
‘So far the 2001 market is maintaining the growth seen in 2000. Good market
potential is backed by sound economic growth,’ said Christopher Macgowan, chief
executive of SMMT. ‘But the heavy truck market faces a slow period as buying
decisions are affected by VED reform. The ready supply of good used trucks may
also affect the market. We hope the Budget on Wednesday will clear some of the
uncertainty, though past experience says that truck buyers are hesitant before
general elections’.
