The decline in CV production figures slowed to its lowest level in 12 months, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT), while van registrations for the year are likely to be cut nearly in half compared with the previous peak.
A total of 9,716 vehicles were produced in September, which is a decline of 53% compared with the same month last year, while the year-to-date figures were down 61.6%.
Van registrations
for 2009 are predicted to be down by 45.8% to 182,800 units compared with a pre-recession high of 337,741 in 2007.
Furthermore, there will only be a small rise predicted for 2110, with the figure forecast at 187,200 – still 44.5% down on the peak.
However, registrations are set to pick up significantly in 2011, with a predicted 213,000 LCV registrations, reducing the decline to 36.8%.
SMMT chief executive Paul Everitt says: "The UK economy is slowly emerging from recession, but businesses remain reluctant to commit to large capital investments. This is reflected in low demand for commercial vehicles."
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