Photo Caption: David Spear, Director, David Spear Commercials
Heads of The Valleys based David Spear Commercial Vehicles is always on point when it comes to highlighting the market trends that affect not just commercial vehicle owners but the wider business community, and this is no exception.
With the recent release of the latest van sales and registration statistics, Owner David Spear has given his expert insight into what these facts and figures say about the business world and what to expect for 2017.
“September 2016 was a brilliant month for the new van market and with a reported 59,857 commercial vehicles registered business confidence and growth is definitely on the up. Whilst this is a modest increase compared with the same period in 2015 – new registrations have risen by 1.9% – the year-on-year increase of 2.7% documents a slightly more impressive rise and September was in fact the first time that the registration of LCVs passed 290,000 since 2007,” said David.
Demand for light commercial vehicles has increased across multiple sectors and the link between van registrations and business growth is for all to see. In addition to 2.0-2.5 tonne van registrations increasing by 11.2%, models weighing from 2.5 to 3.5 tonnes have also risen by 5.2%. It’s not just the van market that has witnessed a boost, pick-ups are in demand with eight successful months of growth this year resulting in a 16.4% increase in registrations.
David added, “Recent market trends have also revealed a firm favourite in regards to the LCV manufacturer preferred by customers. Ford yet again retained their market leading position with 12,000 more registrations than their nearest rival Volkswagen. Along with registration rises, sales of new and used vans have also increased. However, sales of LCVs at auction fell by 5% with businesses preferring to take full advantage of the flexible finance offers available from dealers on newer models. This market confidence certainly bodes well considering the uncertainty of the current economic climate post-Brexit. 2017 is set to be even more profitable for businesses, with more finance options easily accessible and the continuing rise of sales and registrations.”