The secondhand light commercial vehicle (LCV) market could offer a vital insight into Britain's economic recovery, if a new report is anything to go by.
A study that could impact upon those in possession of commercial vehicle insurance, British Car Auctions (BCA) states in its Used LCV Market Report 2010 that the role automobiles play in the wider UK economy should be given greater prominence, due to their popularity among small and medium-sized businesses.
"The state of the LCV market is likely to be one of the most accurate barometers for the health of UK business as a whole and economists and policymakers ignore it at their peril," Duncan Ward, BCA general manager for commercial vehicles, comments.
Commercial vehicle insurance policyholders may also wish to note that congestion charging, corporate tax and a potential increase in the number of electric vehicles are just some of the areas deemed to be set to drive change in the used LCV market.
Furthermore, the study indicates secondhand LCVs tend to have a longer 'business life' than cars, with two or three firms typically using the former.
However, it also appears that commercial vehicle insurance policyholders are increasingly purchasing new LCVs. Research by the Society of Motor Manufacturers and Traders showed 20,139 new vans were registered in June, 15.7 per cent above the same month in 2009.
