EU commercial vehicle registrations climb 8.2% in January

Niall Swan

23-Feb-2017

LONDON (ICIS)–Registrations of new commercial vehicles in the EU rose once again in January 2017, continuing the market’s strong performance throughout 2016, the European Automobile Manufacturers Association (ACEA) said on Thursday.

Demand increased by 8.2% in the first month of the year versus the same period on 2016, totalling 173,614 units, with Spain (23.8%), Italy (+11.4%) and France (+10.3%) recording the highest rates of growth.

Light commercial vehicles (up to 3.5 tonnes) were the biggest drivers of growth in January totalling 142,864 units, a 9.3% year-on-year increase.

Heavy commercial vehicles – those over 16 tonnes – experienced modest growth in January, increasing registrations by 3.9% to 23,195 vehicles.

27,885 new medium or heavy trucks (over 3.5 tonnes) were registered in January 2017, a 3.6%  year-on-year growth, while medium or heavy buses and coaches grew by 2.9% versus January 2016.

The commercial vehicle market’s performance is roughly in line with that of the passenger vehicle market, which ACEA earlier this month reported had grown by 10.2% year on year in January.

The automotive industry is a major global consumer of petrochemicals which contributes more than a third of the raw material costs of an average vehicle. ICIS tracks the movement of petrochemical raw material costs in auto production both globally and regionally with the weighted ICIS Basket of Automotive Petrochemicals (IBAP).

ICIS produces a monthly Global Automotive report covering the major automotive chemicals markets, the auto-industry, the IBAPs and macroeconomic trends. For more information on the report and details on how to subscribe, please click here

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