According to the Society of Motor Manufacturers & 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.
Figures from the British Vehicle Rental and Leasing Association (BVRLA) support these statistics, showing that the LCV fleet leasing sector also had a good year.
Commenting on the SMMT figures, BVRLA chief executive, Gerry Keaney, said: '2014 was a great year for van leasing, 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 benefitting from a continued trend for operators to downsize from larger trucks.
'We also expect the post Euro 6 lull in the truck market seen during 2014 to peter out, with a rise in truck registrations in 2015.'