August CV registrations reaffirm consistent growth in 2002

CV registration growth continued to bounce back in August as in July, after June’s decline slowed growth trends across many UK markets. In total, August’s CV registrations were up by 4.5 per cent on the same month in 2001 at 16,263 vehicles, the highest ever August total under the biannual registration plate system. The month now typically accounts for five per cent or less of annual registrations, rather than 16 per cent under the previous system. CV registrations over the first eight months of 2002 were up 3.7 per cent, or 7,092 units, from 193,540 units at August 2001. For the month, heavier vans and pick-ups led growth in the LCV sector. Rigids (excluding those at 7.4t to 7.5t GVW) and three axle artics led truck sector growth. Both buses and coaches saw weaker registration volumes than in August 2001. Van registrations continue to grow strongly, especially at the heavier end of the 2.6-3.5 tonne GVW segment. Many of the heavier pick-ups with a payload of one tonne or more are included in this category, as are a variety of other body type configurations on the basic panel van and chassis-cab format. 4×4 registrations slipped for a third successive month, trimming the year to date growth rate to 11.5 per cent. Over the first half of the year, the bus and coach sector continued to rise over poor 2001 levels. However, recent industry forecasts of 3,900 registrations for the year as a whole point to a softer market in the second half of 2002. YTD CV registrations up 3.7 per cent at 200,632 vehicles Another month of growth in CV registrations has underlined the consistently positive growth trend this year. We are on track to match last year’s total,’ said SMMT chief executive Christopher Macgowan. Truck registration growth perked-up modestly in August after six consecutive months of negative year on year changes. Growth in registrations of three axle artics was unable to overturn a greater volume loss in two axle artics, leaving this sector down for the month. September 2001 saw a significant year on year growth in truck registrations as people registered Euro 2 trucks ahead of the start of Euro 3 compliance. CV growth continues to be focused at the lighter end due to strong new and replacement demands from the services, transport and construction sectors. Certain vehicle types, notably pick ups, are also proving to be a versatile solution for many businesses where their potential for private, leisure and business applications is increasingly popular.Light CV registrations up 6.0 per cent LCV registrations rose by 6.0 per cent to 12,387 units in August versus August 2001 and accounted for 76.2 per cent of all CV registrations for the month.Heavy vans (2.6-3.5t GVW) again showed a consistent and strong growth in registrations in August, rising 10.3 per cent to take 59 per cent of the LCV market up to 3.5t GVW. Within the LCV sector, car type pick-up registrations (1.8-2.6t GVW) grew by 56.8 per cent. Light, car-derived vans (up to 1.8t GVW) saw slight registration growth of 0.5 per cent, but overall year to date are down by 1.5 per cent. Registrations of 4×4 utilities were 17.5 per down for the month. For the first eight months of the year registrations remained up 11.5 per cent, but the sector has lost its recent growth momentum. The heavy van segment continues to be the keystone to overall growth in CV registrations over the first eight months of 2002. Registrations for this segment are up by 7,646 units within a total volume change of 8,526 for all LCVs. New truck registrations up 0.9 per cent August saw some respite to this year’s trend for lower truck registrations than in 2001 mainly due to general year on year growth throughout the rigid sector and a strong showing in the month by three axle artics. Truck registrations fell 4.8 per cent over the first eight months of the year, down 1,659 units to 32,812. This is still strong in the content of market trends over the past five to seven years. Bus and coach registrations down on August 2001 levels, but YTD still positive CV registrations up 4.5 per cent at 16,263 in August Modest growth of 0.9 per cent in truck registrations, but YTD -4.8 per cent Biggest August total under the biannual registration plate system Light CV registrations up 6.0 per cent in August, 5.4 per cent for YTD August CV registrations reaffirm consistent growth in 2002 Bus & coach registrations fall 11.9 per cent, but YTD still up by 8.9 per cent ‘ Bus and coach registrations fell 11.9 per cent in August to 207 units, both bus and coach registrations volumes were down compared to August 2001. Bus and coach registrations over the first eight months were up 8.9 per cent to 2,750 units.DownloadClick to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)

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