EU Commercial Vehicle Registration Up 5% for February
Photo courtesy of the European Automobile Manufacturers Association.
Commercial vehicle registrations in the European Union had a 5% improvement in February 2018 compared to what was reported during the same period in 2017, which was sustained by growth in several commercial vehicle segments, the European Automobile Manufacturers Association (ACEA) said.
Total commercial vehicle registrations in the EU for February were 173,385, and all of the largest markets in the union posted gains for the month, contributing to this growth, according to a release from ACEA. Spain showed the strongest increase for February, with a 17.9% growth, which was followed by Italy (5.7%), France, (4.2%), Germany (3.6%), and the U.K. (0.9%).
Registrations for new light commercial vehicles in the EU were up 5.8% from February last year, and all major EU markets contributed to this upturn, according to the ACEA. This includes Spain, Germany, the U.K., Italy, and France.
Meanwhile, registrations for new heavy commercial vehicles, over 17 tons, on the month increased 2.5% compared to last year, according to the ACEA. New medium and heavy commercial vehicles, over 3.9 tons, were 1% higher than last year. Growth in major markets, such as Spain, Italy, and France, helped contribute to this.
Looking at the first two months into the year, commercial vehicle registrations in the EU market grew by 6.5% to reach 361,447 new registrations. Spain had a 16.6% growth and registrations for Italy grew by 10.3% in that span of time, said the ACEA. Meanwhile, Germany’s market grew by 6.4% and France grew by 5.1%.
Breaking down different segments during that span of time, the EU saw a 6.8% increase for light commercial vehicles compared to the same time in 2017, which was led by demand for vans in Spain, Italy, Germany and France. Meanwhile, registrations for new-heavy commercial vehicles, over 17 tons, grew 6.4% during the two month time frame, and new medium and heavy commercial vehicles, over 3.9 tons, grew 5.4%. Again, this growth was led with the help of major markets, including Spain, Italy, and France.