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Gerry Keaney on a strong year for van finance – and how 2015 will be even better

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BVRLA Chief Executive, Gerry Keaney

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14 January 2015

Gerry Keaney
Gerry Keaney from SMMT

We welcome the figures that show an increase in the number of commercial vehicles registered in 2014.

We expect to see van registrations continue to grow with the economy

According to the Society of Motor Manufacturers and Traders (SMMT), there were 363,155 new commercial vehicles registered in 2014. This was an 11% growth on 2013 and marks a seven-year record. Vans were responsible for 88.5% of all CV registrations in 2014, and registrations grew 18.7% on 2013.

Our figures from the British Vehicle Rental and Leasing Association (BVRLA) back these statistics up, showing that the LCV fleet leasing sector also had a good year, with volumes rising around 10%.

We expect to see van registrations continue to grow with the economy.

The van sector is seeing a growing popularity for vehicle finance – largely thanks to the development of flexible rental and leasing finance, and ‘driveaway’ products that dramatically reduce the lead-times on pre-fitted out vans.

The van market is also benefiting from a continued trend for operators to downsize from larger trucks.

We also expect the post Euro VI lull in the truck market seen during 2014 to peter out, with a rise in truck registrations in 2015.

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Ralph Morton

Ralph Morton

Ralph Morton is an award-winning journalist and the founder of Business Car Manager (now renamed Business Motoring). Ralph writes extensively about the car and van leasing industry as well as wider fleet and company car issues. A former editor of What Car?, Ralph is a vastly experienced writer and editor and has been writing about the automotive sector for over 35 years.

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