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Record quarter for new CV registrations as UK business confidence soars

13 April 2015 #CV Show #News #Top Stories

The success of the UK’s booming commercial vehicle sector will be celebrated at this week’s Commercial Vehicle Show after the latest SMMT figures revealed an all-time record high for new van and truck registrations.

A strong upturn in economic confidence led to a total of 108,456 registrations in the first quarter, and demand is expected to remain strong in the coming months.

A total registration figure of 384,120 units during the past 12 months tells its own story when compared to the low point of 221,132 during recession in 2009.

This new-found confidence will be in evidence at the CV Show taking place in Birmingham’s NEC this week. The UK’s biggest exhibition of vans and trucks, and Europe’s leading international CV show, will showcase the newest vehicles on the market, fitted with the latest high-tech safety and low emission systems.

Mike Hawes, SMMT Chief Executive, said, “Commercial vehicles are crucial to the functioning of Britain’s economy and these latest figures paint a very encouraging picture. As business confidence grows, demand for the latest vans and trucks is now back to pre-recession levels – outpacing the rest of Europe. This year’s CV Show promises to mirror this success, with a huge range of new products on show.”

Demand for vans is particularly strong as home deliveries continue to grow in popularity: 97,775 vans have been registered in the past three months – 22.3% more than during the same period last year – and annual registrations are now nearing an all-time high. The first quarter saw 10,681 registrations of new trucks, up by some 41%.

The UK is also leading the way in Europe. It is the third-biggest market for vans and trucks, and surpassed its two larger rivals, Germany (+3.4%) and France (-8.1%) in terms of growth during the first two months of the year.

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