Light CVs are still driving growth, up 21.9% in August and 14.8% YTD. Truck volumes over 3.5 tonnes were up 5.9% and 8.4% for the month and YTD. Bus and coach volumes increased 36.2% in August, and were up 6.2% over the year to date.
The SMMT notes that August accounts for 5% of annual new CV sales volume under the bi-annual registration system.
“Six straight months' growth confirmed the surge in business investment in new commercial vehicles,” said Christopher Macgowan, SMMT chief executive. “August is now a low point in the registration calendar, but last month still showed the impact of this year's sustained demand for new CVs. Nearly all sectors, light and heavy alike, shared in the strong business demand. The firm growth trend in new CVs is very encouraging during a time of otherwise lacklustre investment. As business confidence is now recovering, demand should hold firm, possibly pushing the annual total to 350,000, a level not seen since the end of the 1980s.”
Alan Pulham, franchised dealer director for the Retail Motor Industry Federation (RMI) said: “Continued growth in internet sales has created demand for a strong delivery infrastructure based on vans and trucks.” According to Pulham, the trend points to the robust health of the economy: “For the past six months the truck industry has been indicating the underlying strength of the UK economy. Strong truck sales only occur when there is confidence in UK PLC.”