HGVs Registrations SMMT News

Vans drive record registration growth – again

06 July 2004 #HGVs #Registrations #SMMT News

  • All time record of 35,952 registrations for the month.
  • Growth of 10.0 per cent for June and 7.7 per cent for the year to June.
  • Record rolling year total is 377,500 and still rising.
  • Heavy vans took 79 per cent of June’s increase.
  • Trucks up 2.2 per cent in June and 1.8 per cent for the year to June.
  • Buses up 17.3 per cent, but down 14.5 per cent for the year to June.

‘We’ve got all-time record commercial vehicle registrations in June, driven by vans and fuelled by the strongest economy in Europe,’ said Christopher Macgowan, chief executive at the SMMT.

‘CV registrations are a lead indicator of business and consumer demand, as both sectors rely on heavily on road transport for distribution and services. Whilst the momentum clearly comes from the heavy van sector, other vehicles show reassuringly steady and incremental growth.’

‘There is room for further growth over the rest of the year as the general economic backdrop remains healthy. Interest rates are rising and this will temper further growth this year, but with business and consumer demand remaining healthy, the case for investing in new vehicles is a positive one, though a note of caution on the pace of growth over the second half of the year is appropriate,’ he concluded.

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