Van sales slow but may stage second half recovery

Registrations of the classic bellwether of the economy were down 26.6% in December, dragging the figure for 2008 as a whole down almost 15% to 289,463. The picture was brighter for the larger truck market which saw registrations up 5.8% in December and up 13.1% to 57,410 for the year. Paul Everitt chief executive of the Society of Motor Manufacturers and Traders (SMMT), which compiles the figures, said: “The year ended well for truck registrations, while vans continued down, but not as fast as in November. After the abrupt end to buoyant registrations in 2008, we’re looking to the year ahead with caution rather than trepidation. “Consumer and business demand will be low as we see the first big recession since the early 1990s. We hope spending will stabilise in the second half of the year; with costs falling, credit markets recovering and government policies supporting recovery. Confidence to invest in new vehicles should then return, but the revival may be slow, taking some years to repeat recent record volumes.”