- Strength of UK commercial vehicle market continues, with year-to-date registrations up 16.7% and a run rate double the monthly average.
- Overall sector remains stable with small 2.9% decline in the month following a bumper October 2014.
- Van demand continues upward trend with 6.2% month-on-month increase, marking nine out of 10 months of growth in 2015.
UK van and truck registrations: 2015 and % change on 2014
The UK commercial vehicle market remained steady in October, with a small 2.9% decline in registrations. This reflects a return to business as usual following exceptional demand in the same month last year that was driven by impending regulatory changes. Figures for the year-to-date show overall growth of 16.7% compared with 2014, with a total of 355,301 vehicles registered.
The British van market continued to thrive, as demand rose 6.2% compared with October 2014. 312,369 new vans have been registered so far in 2015 – 16.3% more than this time last year, and fuelled by increasing business confidence and the ever-growing popularity of online shopping.
Truck registrations remained strong, up by nearly a fifth in the year-to-date, with 42,932 new vehicles registered in the first 10 months. A spike in heavy duty demand last October, following the introduction of the Euro-VI emissions standard at the beginning of 2014, caused this month’s figures to appear considerably lower in comparison, falling 31.5%.
Mike Hawes, Chief Executive, SMMT, said, “The van and truck market remains strong, with remarkable growth across all commercial vehicle types so far this year. The rise in demand for vans demonstrates an ongoing trend as more consumers choose the convenience of home delivery.
“Meanwhile, following an exceptionally strong October in 2014, it’s no surprise to see a decline in last month’s truck market. To put this into context, at 5,791 registrations, this October’s performance is more than double the average monthly total of 2,720 delivered by the market since 2001.”