Uncertainty and weaker sterling behind LCV registration decline
The National Franchised Dealers Association (NFDA) has commented that the lower number of light commercial vehicle registrations in September is indicative of “uncertainty” and higher retail prices of goods from the European Union as a result of a weaker pound.
“September’s decrease of -4.2 per cent in registrations of light commercial vehicles reflects the uncertainty which has been affecting businesses and private buyers over the past months”, said Sue Robinson, director of the NFDA, commenting on the latest SMMT’s light commercial vehicle registration figures.
“Recent feedback from dealers suggests that the weaker sterling is starting to force manufacturers to increase the retail prices of some of the items coming from the EU, particularly, those from Germany.”
“Generally, it is believed that the market will continue to perform at these levels in the last quarter of the year.”