LCV recovery continues with strong July performance
Van sales however, dropped by -0.8% in the month of July, which could prove to be an unwelcome sign for the LCV market, as after 17 consecutive monthly increases, it is feared that a decrease in van registrations for July could be a sign that the recession's recovery process is starting to lose its momentum.
The industry outlook for the LCV market remains challenging and uncertain throughout the latter half of 2011, with weak GDP growth and high inflation expected to be the main factors in preventing a sustainable uptake of LCV registrations.
Paul Everitt, SMMT chief executive, said: ‘July saw the first drop in the volume of vans registered following 17 consecutive monthly increases, reflecting a more uncertain period for the economy. Truck figures rose by 27.5%, the tenth successive monthly rise and while industry remains cautious, expectations for the remainder of 2011 are optimistic, with van and truck figures looking set to reach 300,000 units by year-end.’