IBIS World (a major research house founded by Phil Ruthven) stated on 23 January 2024:
"...the average age of light commercial vehicles, heavy rigid trucks, articulated trucks, buses and motor cycles have all increased over the period, lifting the age of the total fleet..."
All other things being equal, this should be of assistance to SNL as it means a higher percentage of heavy vehicles and light trucks (the latter under 4.5 tonnes gross vehicle mass) are out of the manufacturer's warranty period.
Ann: Earnings forecast half year December 2023 and dividend, page-6
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