The latest statistics from The Society of Motor Manufacturers & Traders (SMMT) always makes for essential reading for fleet owners, transport managers and commercial vehicle drivers alike, and as a leading supplier of new, nearly new and used commercial vehicles, David Spear Commercial Vehicles is one company that can always be relied on to deliver an expert insight.
The Heads of The Valleys based dealer has experienced plenty of success during early 2017, with the opening of its new site in Cardiff just one highlight. The first quarter of 2017 also saw record breaking sales for David Spear with March being the best month year to date (YTD) for quality used commercial vehicle sales. This news may come as a surprise as nationwide the latest SMMT statistics revealed a dip in light commercial vehicle registrations.
David Spear, Owner, said:
“Just 63,316 new light commercial vehicles drove onto British roads last month, a figure that represents a 0.9% year-on-year decline in registrations. This shortfall is the first decline in new registrations for some five years. Overall the market has experienced a dip in new van demand, yet the number of pickups registered grew by 23%. Registrations of vans weighing between 2.5 and 3.5 tonnes also showed a slight increase with the 40,237 vans registered resulting in a 3.6% increase.”
Whilst new LCV registrations fell following a record breaking period in 2016, particularly in respects to smaller vans weighing less than 2.0 tonnes and between 2.0 and 2.5 tonnes, the demand for quality used vehicles is stronger than ever. In addition to reporting a YTD sales increase of 20%, David Spear also stated that vehicle values were holding strong.
“Despite a slight decline in new registrations, the LCV market remains strong with auction prices holding up and used vehicle sales in particular doing very well. As a business we are always looking at the market and researching which sectors are performing well as is the case with pickups and 2.5t to 3.5t vehicles. Our stock will always reflect the demand and this has resulted in a highly productive first quarter with year-on-year growth in excess of 20%. Nationwide new van registrations remain at a historically high level, even with the recent dip in registrations, and demand is expected to remain stable throughout the coming year.” Concluded David.