Commercial vehicle market returns to pre-recession levels

London, UK – The Society of Motor Manufacturers and Traders (SMMT) published a report on 7 January saying the commercial vehicle market in the UK has shown an 11-percent growth in 2014 with 363,155 units which is the highest level since 2007.

According to the head of SMMT, Mike Hawes, the van market leads growth was up 18.7 percent to 321,686 registrations for the year while truck registrations fell 26.2 percent throughout the year due to changing legislations. .

“A continued demand for vans has seen the commercial vehicle market in 2014 return to pre-recession levels, reflecting the growing confidence of many businesses in the UK.” said Hawes.

“The truck market has been distorted by the introduction of Euro-6 emissions regulations at the start of the year and new type approval legislation at year end, which affected fleet renewal patterns and caused in a drop in registrations,” he said.

The SMMT boss concluded that the outlook for 2015 was bright with stability expected to return to the market.