July CV registrations climb to record high
- CV registrations up 11.7 per cent to their highest ever level in July
- YTD CV registrations were up 3.6 per cent
- Light CV registrations up 15.1 per cent in July and 5.4 per cent YTD
- Truck registrations fell for the sixth successive month, down 2.7 per cent
- Bus & coach registrations rose by 30 per cent on the July 2001 total
‘We’re pleased to see better growth in the July CV registrations, following
the downturn in June. CV registrations this year market should match last year’s
impressive total,’ said SMMT chief executive Christopher Macgowan.
CV registrations bounced back in July after the decline in June. July registrations
rose 11.7 per cent to 25,392 units, their highest ever July total. July registrations
have grown rapidly since the introduction of the twice-yearly registration change.
The month now typically accounts for seven per cent of annual volume, rather
than three per cent under the annual August plate change system.
CV registrations over the first seven months of 2002 were up 3.6 per cent,
or 6,386 units, to 184,369 units. The growth is mainly from the LCV sector,
but bus and coach volumes are also running well ahead of 2001 levels.
The 12 month moving annual total climbed to 319,778 units, some 6.4 per cent
ahead of last year’s level and SMMT expects the 2002 full-year total will be
just over 310,000.
Van registrations continued strongly, supporting the overall growth, especially
in the heavier van sector from 2.6-3.5 tonne GVW. Here new models and intense
competition coincided with sustained growth in consumer spending. Pick-ups also
did well in July, though 4×4 registrations slipped for a second successive month.
The bus and coach sector continues to rise over weak 2001 levels. Truck registrations
dipped again and show few signs of early recovery.
The UK’s GDP growth rebounded in the second quarter, following two consecutive
quarters of negligible growth. Consumer spending remains robust, although, according
to retail sales data, its pace has slowed a little.
While recent figures show the manufacturing sector remains depressed, it is
hoped that recession may now be bottoming out. At the same time the construction
sector has performed well. The generally positive economic environment seems
to be supporting CV demand, although the pace of growth in the market is above
expectations. Operators seem keen to take advantage of good deals, buoyed by
low cost finance, and intense competition.
Light CV registrations jump 15.1 per cent
LCV registrations, at 20,718 units, rose by 15.1 per cent or 2,712 units in
July. This was the fifth month CV registrations grew in 2002. LCVs now account
for 81.6 per cent of all CV registrations, compared with 79.2 per cent a year
Heavy vans, from 2.6 – 3.5 tonnes showed the biggest registration increase
in July. Volumes rose 29.9 per cent to take 56 per cent of the LCV market, up
from 50 per cent last year.
In the LCV sector, pick-up registrations grew a healthy 10.6 per cent, whilst
the light van registrations, up to 1.8 tonnes, were up 2.2 per cent.
Demand for 4×4 utilities slipped 4.5 per cent during the month. Despite July’s
figures, 4×4 utility registrations saw one of the best improvements over the
first seven months of the year, up 13.4 per cent to 5,491 units.
The main volume of growth in the LCV sector over the first seven months of
2002 came from the medium and heavy van sector, 1.8 – 3.5tonnes, where volumes
climbed 8.6 per cent or 7,960 units to 100,499 units. Light van registrations
dropped 1.7 per cent over the January – July period.
New truck registrations dip 2.7 per cent
UK truck registrations dipped for the sixth straight month in July, down 2.7
per cent to 4,371 units. However, this was the smallest downturn of the year,
thus far. Rigid registrations fell 1.8 per cent during the month, although the
decline was entirely concentrated in the 7.4-7.5 tonne two-axle rigid sector,
down 20.3 per cent. Registrations of heavier and multi axle rigids grew. Three-axle
artic tractor registrations were up in July while two-axle artic tractor registrations
fell by almost a quarter.
Truck registrations fell 5.5 per cent through the first seven months of the
year, down 1,690 units to 29,143. The sector has cooled from the very high levels
sustained in recent years. SMMT expects the market to slip back to its long-term
average of some 51,500 units in 2002, compared with 55,524 in 2001.
Bus & coach registrations rise on 2001 levels, but still down on 2000 rates
Bus and coach registrations rose 30 per cent in July to 303 units, this growth
rate flattered by the very weak 2001 volumes. The gains over the 2001 level
came from the fare stage PSV sector. Coach volumes were lower during July.
Bus and coach registrations over the first seven months of 2002 climbed 11
per cent to 2,543 units, with almost identical growth rates across both PSVs
and coach markets. The SMMT expects volumes will hit almost 4,000 units this
year, some 250 units more than in 2001.