New figures from CSO show that the upsurge in goods vehicle registrations has accelerated further in the first half of 2015.  

According to Dr. John McCartney, Director of Research at Savills

“Compared with 2014, new truck and van registrations are up 53% in the first half of the year.  This reflects a sharp increase in the movement of goods through the economy as the retail sector continues to pick up.”

McCartney continued;

“We are clearly seeing this phenomenon in the property sector also with almost 100,000 sq m of industrial and warehouse space taken up in Q2 and with retail rents now also picking up”.

Interestingly, Savills noted that the strong uplift in second-hand goods vehicles registrations which was seen in the early stages of the economic recovery now appears to have run its course;

“In part this may reflect exchange rate movements with a weaker Euro meaning that fewer second-hand commercial vehicles are being imported from the UK.  However, the strong increases we have seen in overall business investment and the willingness to buy new vehicles signifies a continued rebuilding of confidence”.