CV market shows strong growth
The commercial vehicle market returned to strong growth in November following a dip in the previous month, according to figures released today by The Society of Motor Manufacturers and Traders (SMMT).
During November, 33,303 CVs were registered, an increase of 13.9%. Van registrations posted a 9.6% rise in the month, continuing the general trend seen over the past few years with businesses having grown in confidence and online deliveries surging in popularity.
Truck registrations saw a huge 55.8% jump, although this was to be expected given the large fall in November 2014 which followed changes to Type Approval legislation.
Mike Hawes, SMMT chief executive, said, ‘The commercial vehicle market continues to demonstrate phenomenal progress, with sustained growth over a number of years as ever-more confident businesses invest in their fleets.
‘The sharp upturn in truck registrations comes as no surprise, given the heavy fall seen in the same month last year – but the long-term trend of robust growth is encouraging.’