The news this morning that the UK has finally exited the recession (let's all agree not to say credit crunch) will be welcomed by many. Whilst we wont be expecting everything to return to normal just yet it is a clear sign that recovery is on its way. Those in the commercial vehicles industry will be pleased to hear that the economy is growing again after a difficult year.
Sales of used vans and new vans were badly hit by the recession as personal and business spending was greatly reduced. Most businesses kept outgoings to a minimum in order to secure jobs so increasing fleet size or investing in new vans wasn't an option. It is now hoped that sales of new vehicles will increase. This would most likely lead to an increase in used vans sales also.
Sales across Europe dropped by almost a third in 2009 although this eased towards the end of the year. The government's 'bangers for cash' scheme was criticized for focusing on private vehicles rather than supporting the commercial vehicles industry. Despite this sales have improved as spending has increased with December of 2009 only seeing a drop in sales of about 10% compared to 2008.