Commercial vehicle sales drop in October

Falling business confidence hit light commercial vehicle sales in October as companies and owner drivers stayed away from showrooms.

The number of light commercial vehicle registrations fell -7.4% to 24,968 units, according to the SMMT.

Overall year-to-date figures saw a decline of -3.5% on 2016, with 307,647 registrations.

The SMMT noted that while the van market remained at a high level, the recent decline in business confidence caused by ongoing political and economic uncertainty had resulted in further declines in the market.

The trade body recently revised its van sales forecast downwards for 2017 reflecting this negative sentiment.

Mike Hawes, SMMT chief executive, said: “Following the recent revision to the new van forecast, this month’s decline is not unexpected.

“While the market remains at a very high level, the recent decline in business confidence, caused by economic and political uncertainty, is now having an impact on van registrations. Government must therefore address these concerns and create the conditions necessary for the market to prosper.”

This article originally appeared on MotorTrader.com