The number of private and commercial traders taking commercial vehicle insurance out on new vans has risen for the fifteenth month in a row according to the latest monthly report issued by the Society of Motor Manufacturers and Traders (SMMT). The figures for April 2011 have just been disclosed and once more trucks and vans come out the best.
Light vans and heavy trucks shine
The real success stories were light commercial vans and heavy trucks but gains were noted right across the spectrum. The total sales for trucks and vans in April 2011 was 21,578, this was up almost a quarter for the same period in 2010 with aggregate sales for the year passing the 100,000 mark, an increase of 29% compared to 2010. Many industry experts look to the rolling year figures to get a feel for how the industry is performing and they will been heartened to note that these were just as good. Overall the new registrations numbered over 280,000 which once again showed an increase of around 24%.
Improving figures but still a long way to go
The industry feeling is that comparisons to 2010 will stay looking good for the whole year. Van insurance brokers are already forecasting a better year than 2010 but it is a far cry from the heady days of 2008 when year to date figures were a whole 100,000 greater. This tells the story of just how difficult the recession has been for the commercial vehicle industry.
Tractors more than pulling their weight
A break down of the April results shows that just over 18,000 registrations were for new vans and around 3,700 were trucks. The truck figures were really impressive though and showed an increase of 40% on 2010. The 21% increase on van registrations seems almost measly in comparison but in truth is yet another impressive result. On the speciality vehicle front, two and three axle tractors have shown tremendous growth over the last 12 months with three axle vehicles up well over 100%.
CEO delighted with commercial sector
Paul Everitt, the Chief Executive at SMMT, once again paid tribute to the hard work being put in by the commercial sector and confirmed that in his opinion the sector would go from strength to strength for the rest of the year.