By Maximilian Clarke
A 20% surge in the number of commercial vehicles being registered suggests businesses are investing in new infrastructure, indicating a tentative return to confidence, the Society of Motor Manufacturers and Traders has said.
September alone was an 8.8% rise in the number of van and truck registrations, with trucks seeing a 30% annual rise.
“Confidence returned to the commercial vehicle market in 2011 and the September market continues the upward trend, growing 8.8% on last year,” said Paul Everitt, SMMT Chief Executive. “The future state of the economy is certainly a concern, but it’s clear that owners and operators are currently investing in new, fuel-efficient vehicles to help weather the storm of high fuel prices.”
The SMMT’s figures point to a ray of light for the future of the UK economy, just a day after UK’s official GDP growth was again downgraded. A rise in commercial vehicle registrations suggests that businesses are seeing internal investment as the key to their survival, paving the way for a more accelerated growth in 2012.
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