Even though UK domestic car market sales finished 2011 4.4% down, the story’s not as bad as it sounds. December posted figures just 1.1 down on the previous year, showing a marked improvement on previous months towards the tail-end of the year.
Figures for the insurance sector were likewise unconvincing; the rise of fraudulent personal injury claims and vehicle insurance crash for cash cons saw, according to AA Insurance, the sector paying out £1.22 for every £1.00 paid into the relative schemes.
The same cannot be said for the commercial van sector itself, however. Rather than posting a negative at the end of last year, the industry grew by 17%, December rounding off a terrific 12 months showing a 7.8% increase on the previous year.
The Society of Motor Manufacturers announced that 2011 saw over 250,000 vans registered, but warned not to get carried away with the huge jump from the previous year. There is still work to be done with the prospect of a tough year ahead.
A look back on the year saw that many companies have upgraded their commercial vehicle to meet with new legislation coming into effect that will help reduce the country’s carbon footprint. For this investment, the sector wants help to curb the rising cost of van insurance to combat its new investment in the future of the planet and the economy as a whole.
Initial investigations by the Office of Fair Trading have been inconclusive and have such asked further questions of the insurance sector to see whether the spiralling costs of car and van insurance recently are wholly justified.
With its new seat at Westminster, SMMT hope to encourage the government to continue with its implementation of strategies for growth to shore up the economic foundations set in place under the coalition.
Their Chief Executive, Paul Everitt, added that new innovations in technology and design were also contributary factors to the month-on-month growth, as well as the first signs of confidence in the economy for some time.
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