TNB News Uncategorised

A perspective from a second lockdown

12 November 2020 #TNB News #Uncategorised

The ongoing pandemic and current covid restrictions continue to impact the automotive sector, with commercial vehicle industry priorities at the fore as we navigate through a second lockdown.

Earlier today came the government announcement to postpone the introduction of a graduated van VED scheme until at least April 2021, providing some much needed certainty for our industry.

Looking at the data, the outlook for the LCV market is a decline of 21.3% over the full year to 287,750 units. But compared with other sectors this is not a bad performance: the HGV sector plunged over 70% in the second quarter, although we don’t have the final figures, there are signs of a bounce back during Q3.

While new vehicle registrations for the commercial vehicle sector are down, sales of used vehicles are up with prices hitting record levels due to the strong demand. It’s also interesting to see that CV on road use is now actually above pre Covid 19 levels.

Continued conversation with our members and government is what will help us take the industry through the upcoming period, as undeniably the road ahead poses a lot of unknowns.

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