Delivery services are investing in fleets of trucks, vans and other commercial vehicles to keep up with the increasing popularity of online shopping and subsequent home deliveries, says finance provider LDF.
Figures from the Finance and Leasing Association show that the value of asset finance used by businesses to invest in commercial vehicles has risen from £4.9 billion to £5.9 billion in the past year.
Online shopping destinations are wising up to customers’ demand and expectation of prompt delivery times, leading to major chains such as Amazon and ASOS investing heavily in their delivery services and logistics.
SMMT Commercial Vehicle Development Manager Nigel Base said: “Even before the festive shopping season kicked in, retailers have been savvy to invest in commercial vehicles to prevent delivery headaches. As a result, the commercial vehicle market is proving more robust than ever, and with the continued popularity of events such as Cyber Monday, investing in commercial vehicles will become an increasing priority for the majority of online retailers.”
