Little Festive Cheer for Van Market
The festive season doesn’t appear to have brought any cheer for the beleaguered van market after the release of the November figures showed another slump.
New van registrations in November continued on a downward trend with dealers suffering a 16.6% fall. The overall van market slump in 2012 is almost 8%, confirming the gloomy outlook the commercial vehicle market experiencing.
Despite a brief rally in the middle of this year, the van market resumed the downward trend in experienced in the first three months of 2012. This year’s fall follows a steady growth in sales since 2009, but it seems that many van insurance policyholders aren’t ready to trade in their old vans or simply don’t have the funds to expand their operations.
2012 Van Registrations Down
There have been 223,843 new vans registered so far this year, but the November figures one make up just 18, 976 of that total, with the bulk of sales coming in the first six months of 2012.
However, industry analysts aren’t unduly alarmed by last month’s, and indeed, the whole year’s depressing figures. Many believe that the market is simply slowly climbing out of recession.
“We look forward to next year where greater stability should see the van market return to slow, but steady growth,” said Paul Everitt of the Society of Motor Manufacturers and Traders
The 2.0 to 2.5 tonne was the van sector hardest hit November, experiencing a 28.9% drop in sales to 2,439 in the last month. The 2.5 to 3.5 tonne sector also saw a sharp fall of 17.6 %, but no sector escape the latest slump in figures.
Heres hoping to a better start to 2013 and an upturn in commercial vehicle sales!