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May sales hit 15-year high, but don't exped it to last
Page 20
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CV REGISTRATIONS hit their highest level in May for 15 years last month, with 30,491 new vehicles registered -up 7.8% on May 2003, according to the Society of Motor Manufacturers and Traders (SMMT). "The growth in registration figures confirms a solid and positive trend in the CV market," says SMMT chief executive Christopher Macgowan. "The wide range of new, efficient and adaptable vans and trucks available
is delivering record registration volumes. Businesses are giving a thumbs up to the new vehicles available to service their markets and operating needs."
He warns that some demand, however, was placed in 2003 to take advantage of good finance terms. With current uncertainty over interest rates and rising fuel costs, it is possible that there will be a slight downturn in the market, he adds. Van sales
Light commercial van registrations slipped by 5% in May, but are down just 0.2% year-on-year. Growth in the medium and heavy van sectors (1.8-3.5 tonnes GVW) rose 14.8%. The heavy van market (2.6-3.5 tonnes) showed the biggest growth in market share, with a 20% increase in May and 16.7% growth for the year-to-date. itudt sales
Truck registrations are up 1.8% for the year-to-date and rose 3.4% in May. Annual registrations are close to 56,000 and a strong growth in domestic demand should have a positive influence for modest increases in the second half. Three-axle artic registrations are up by 12.4% year-on-year, while the market for two-axle adios has fallen by 26.5% in the same period. Fuel pens Fuel pens
Fuel prices continued to rise over the past month as the cost of crude oil rose to a record $42.45 a barrel following a terrorist attack in Saudi Arabia, the world's largest oil producer. Members of the oil producers' cartel, OPEC, have agreed to increase production by two million barrels a day in a bid to slow soaring oil prices.
The UK remains the most expensive EU country in which to buy fuel, with the average price of diesel at €1.21/lit compared with just €0.69/lit in Poland.