Industry News from Yes Insurance

There could be fewer people taking out van insurance this year as new figures show a drop in vehicle sales.

According to research from the SMMT, registrations of vans fell by 22.1 per cent for September to 6,185 and by 22 per cent for the year to date to 44,117.

Paul Everitt, chief executive of the body, claimed September is a key month for new registrations but added the credit crunch had negatively impacted on this year's figures.

"The summer's spending cut meant a sharp drop in the month’s van registrations," he said.

He predicted sales in the new van market will stay well below recent levels for an extended period, with a tough time expected for the sector for at least 12 months.

At the same time, recent SMMT figures showed new car registrations also fell, by 21.2 per cent, to 330,295 units, with year-to-date volume dropping 7.5 per cent to 1,794,419 units.

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