STRONG demand for vans continues to carry commercial vehicle market, says the Society of Motor Manufacturers and Traders (SMMT).
It reports commercial vehicle market grew 11.9%, increasing registrations to 214,959 for the year-to-date, up 13%.
Continued growth seen in van market; up 22.3% in August and 19.1% to 192,948 units for the year-to-date.
“Strong van registrations have led to another month of continued growth for the commercial vehicle market, with the demand for light commercial vehicles continuing to build,” said Mike Hawes, SMMT Chief Executive.
Meanwhile British Car Auctions has seen record average values for commercial vehicles in August 2014.
Confidence is as strong said Duncan Ward BCA’s General Manager Commercial Vehicles.
He added, “Average values have been climbing over the summer holiday period, with the key factor driving the market being the supply of good retail quality stock – or rather the lack of it. This means there is plenty of competition for the best examples reaching the market.
“Demand has been strong for well-presented corporate stock during August. As always, good condition is the key and vans with a nice specification and in an attractive retail colour are very desirable.”
The average van at BCA sold for £5,658 in August, an increase of £160 (2.9%) compared to July and the highest monthly average figure on record.
Fleet & lease and nearly-new values rose, month-on-month, while part-exchange values fell back. Year-on-year values remain well ahead by £645 (12.8%), with both age and mileage falling.