Our take on the latest Commercial registrations and activity (Mon 10 Dec 2018)
New very heavy commercial vehicles up 12%pa in the November year
New light commercial vehicle sales up 4.7%pa in the November year
New medium commercial vehicle sales down 2.1% in the November year
The key numbers...
- Growth in new light, medium, and very heavy commercial vehicle sales are all well down from their recent peaks and are expected to fall away further in 2019 as the economy continues to slow.
- Very heavy commercial vehicle sales are in the strongest position with annual 12-month growth rates still in double digits. High export volumes have helped maintain demand for very heavy commercial vehicles.
- 12-month light commercial vehicle sales growth is soft on the back of flat construction sector activity and low business confidence. 12-month medium commercial vehicle sales have fallen for the past three months because of softer growth in tourist-related food & beverage spending and subdued retail sales activity.
Commercial vehicle sales
12-month APC
...and our reaction
- New light commercial vehicle sales jumped 15% in November 2018 compared with a year earlier. The 12-month annual growth rate for the November year edged up as a result.
- New medium commercial vehicle sales remain volatile, growing 11% in November compared with a year earlier, following October's decline. However, the 12-month annual trend continues to decline.
- New very heavy commercial vehicle sales grew 4.0% in November compared with a year earlier. The 12-month annual growth rate for the November year is robust but well down from recent peaks.
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