The market for used commercial vehicles is set to remain strong through 2018, according to experts at Cap HPI.
Demand for good quality used vehicles remained consistent in the final quarter of 2017 with special sales taking place in December. The trend is set to continue in 2018 as the logistics sector continues to boom.
The new sector is predicted to be flat in 2018, continuing a trend from 2017 that saw registrations experienced the first year-on-year drop since the period 2011 to 2012. The 362,149 vehicles registered in 2017 represent declines of 2.6% and 3.6% compared to 2015 and 2016, respectively.
Daily rental volume increased in 2017 by 2.4% when compared to 2016 and represented 15.7% of the total registrations compared to 14.8% in 2016.
Steve Botfield, senior editor commercial vehicles and motorcycles at Cap HPI, said: “With historic new registrations still on the increase three or four years ago, the volumes expected to reach the market in 2018 will be higher than we have seen in recent years.
“However, with increasing vehicle reliability, we may see vehicles being kept for longer and reduce demand in the market.
“It is unlikely that in the foreseeable future we will attain the heights of the registrations we saw in 2015 and 2016.
“With the current economic climate and exchange rates vehicles that would have been destined for our shores will either be diverted to other markets or fleets will have to face an increase in vehicle purchase prices.”