White van man hits the buffers
1 min read
As the credit crunch starts to bite, that well-known bellwether of the economy, white van man, is resisting the urge for new wheels, according to the latest commercial vehicle registration figures.
New data from the Society of Motor Manufacturers and Traders (SMMT) show a big drop in van registration volumes, although truck registrations are more stable.
Registrations: down 19.2% in September and 0.7% to 377,531 for the rolling year.
New van registrations were down 22.1% to 36,512 in September and down 4.6% to 318,762 for the rolling year. Trucks registrations were up 3.6% in September and up 27.7% to 58,769 for the rolling year.
SMMT chief executive Paul Everitt said September was a key month for registrations, but the credit crunch had hit the figures. “The summer’s spending cut meant a sharp drop in the month’s van registrations,” he said. “We expect the van market will stay well below recent levels for some time. Trucks, stable for the month and well up for the rolling year, saw orders drop through the summer, so registrations will suffer soon. Overall, we expect a tough market for the next 12 months or more.”
