VAN MARKET SHOWS FIRST SIGNS OF WEAKENING
Published 04/11/2016 00:00:00 in Press Releases
“New Light Commercial Vehicle market remains strong year to date, although October saw a fall back in demand”, said Sue Robinson, Director of the National Franchised Dealers Association (NFDA) which represents franchised car and commercial vehicle retailers across the UK, commenting on the SMMT’s commercial vehicle registration figures.
New van registrations declined by 4.5% in October, however, year to date, the market remains 2% higher than 2015. A total of 318,664 units have been registered in the first ten months of 2016, which is the best performance on record.
Robinson continued, “Unusually, large vans of 2.5-3.5t registrations decreased by 7.1% for the first time since July 2013. Positively, this segment is still up 8.2% compared with 2015 and continues to represent the largest commercial vehicle sector accounting for 62% of total registrations this year.
“The ‘pick-up’ market performed well with a growth of 17.8% in October and surprisingly the mid-size, 2.0 – 2.5t, market also rose by 19.6%. These vehicles are usually used in the service industry.
“Following very positive results in the first three quarters of the year, there is a general feeling amongst dealers that this is just a temporary slowdown in the market, which overall remains strong.”
NOTES TO EDITORS:
Gabriele Severini, Communications Officer
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The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.