New Van Registrations Soar – The Highest in 15 Years!
A 1.9% increase in the registration of new vans in September spells the largest increase of its kind in 15 years. SMMT (the Society of Motor Manufacturers and Traders) reported that 59,857 units were registered last month alone.
Pick-up trucks lead the rampant increase with yet another increase of registrations, seeing its eighth consecutive month increase in registrations. Overall 2016 has been a fantastic year for the prominence of pick-up trucks, and with Septembers figures included, it has been reported that the pick-up market has seen a 16.4% increase in new registrations.
Following in second place is the heavier van. Indeed, registrations for vehicles weighing between 2 and 2.5 tonnes increased by 11.2% this month, and those weighing between 2.5 and 3.5 tonnes increased 5.2%.
In total, light commercial vehicle registrations have surpassed the previous record for registrations in September at 290,000. This was reported in 2007.
So, it is safe to assume that the statistics indicate the market is heading upwards, which is a great sign for UK traders, more vehicle registrations mean that more people are looking to expand their professions, adding more vehicles to their fleet. It could also mean that the market is experiencing a surge in people starting a new profession.
When asked about the increase of heavy vehicle registrations in September, Mike Hawes, the executive at SMMT stated; “The month of September did not disappoint, as businesses took advantage of the new 66-plate and a range of attractive and flexible finance options.”
“To maintain this high level of demand and drive fleet renewal, positive business conditions must be assured despite the long-term political and economic uncertainty.”