HGVs Registrations SMMT News

December”s robust growth seals best year since 1989

07 January 2004 #HGVs #Registrations #SMMT News

  • CV registrations climb 14.4 per cent month-on-month
  • 2003’s registrations were 363,687, up 12.9 per cent on 2002
  • 2003’s CV registrations just 2.0 per cent short of record 371,104 set in 1989
  • Light CVs up 14.4 per cent month-on-month, 14 per cent for the year
  • Trucks rise 14.7 per cent month-on-month, 7.1 per cent for the year
  • Buses and coaches up 12.2 per month-on-month, up 8.8 per cent for 2003

Commenting on the end of year registration figures, SMMT chief executive, Christopher Macgowan said, ‘2003 was a remarkable year for business investment in new vehicles as market growth showed an unexpected strength and durability. A wide range of businesses showed significant confidence in the future of their markets and a need for modern, comfortable and adaptable CVs. December’s figures continued the robust growth trend seen over 11 of the last 12 months.’

‘With GDP growth accelerating again and business confidence firm in the UK, the new CV market is well placed to hold 2003’s strong registration volumes into 2004. Slowing growth in consumer spending will clearly be challenging, but the expected growth in business investment and healthy activity levels in construction and other service sectors bodes well for the immediate future.’


Filter News

Update Newsletter