SMMT chief executive Paul Everitt has called on the government to use the upcoming budget to encourage new investment in capital goods and help rebuild business confidence.
“New van and truck registrations continue to reflect a weak economic recovery and businesses reluctant to commit to new investment. January’s truck registrations are the lowest monthly figures since July 1991, leaving most truck makers very disappointed at the slow start to the year,” he said.
Year-to-date (YTD) registrations for medium and heavy trucks dropped nearly 54 per cent from Jan ‘09, with MAN taking the biggest hit – almost 75 per cent.
DAF continues to lead the market, despite a sharp fall in its registrations compared to the previous year’s monthly figures, and Mercedes has had a strong month.
In the light truck market YTD registrations fell by 21.78 per cent to 352.
Van registrations fared better in January, with a drop of 1.69 per cent to 11,546.
However, the figures reveal that Ford’s market share has slipped four per cent to 22.81 per cent.
Table: Medium and heavy trucks: above six tonnes.
|Brand||Jan 2010||YTD 2010||YTD market share %||
YTD change %
|Total heavy CV||1,201||1,201||-53.56|
Source: Society of Motor Manufacturers and Traders