The Society of Motor Manufacturers and Traders (or smut’ as they are affectionately known) reckons demand for new commercial vehicles remains severely depressed.
“Trucks are down 37% this year, with vans down 46% on the volume at quarter one 2008,” says SMMT boss Paul Everitt, “and we think registrations may drop further.”
Good of him to point this out, but what’s really on his mind? “It will take time before the Chancellor’s financial stimulus policies work,” he suggests not unreasonably, “so we need the government to do more to stabilise markets and give firms and households the confidence to buy.”
Anything in particular he can think of? “A scrappage scheme will provide the incentive needed and the evidence is clear that schemes already implemented across Europe do work to increase demand. The UK is the only major European market not to implement a scheme.”
Will Darling take PE’s advice? We’ll have to wait until Wednesday 22 April 2009 (12.30pm onwards) to find out.
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