SMMT: Commercial vehicles registrations down 42%
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The number of commercial vehicles registered during March this year fell by almost half from February, figures from the Society of Motor Manufacturers and Traders (SMMT) show.
In total, registrations fell 42.1 per cent month-on-month, accounting for a 23.9 per cent drop in year-on-year registrations.
"UK demand for vans and trucks remains low," explained Paul Everitt, SMMT chief executive.
"Trucks are down 37 per cent this year with vans down 46 per cent on the volume at quarter one 2008 and we think registrations may drop further."
The figures are one way of seeing the result the recession is having on UK industry, as with less certainty in the current economy there have been fewer new registrations.
In total just 300,629 new commercial vehicles were registered during this rolling year, made up of 51,971 trucks and 248,658 vans.
Mr Everitt added that with the chancellor Alistair Darling's stimulus policies there is hope that the figures will improve, but that good news will be some way off.
"It will take time before any of the chancellor's financial stimulus policies work, so we need the government to do more to stimulate demand and ease access to credit."
