European demand for new commercial vehicles increased for a third consecutive year in 2015, led by Spain, the European Automobile Manufacturers Association (ACEA) said Tuesday.

Commercial vehicle registrations rose 12.4 percent to total 2,079,322 units, the Brussels-based ACEA said. Spain registered the biggest increase of 36.4 percent, followed by the UK with 16.7 percent and Italy with 13.2 percent.

Germany logged 4.3 percent growth and France recorded 3.1 percent increase.

Sales of new vans grew 11.6 percent and those of heavy trucks increased 18.4 percent. New truck sales increased 16.2 percent and demand for buses and coaches grew 17.8 percent.

Spain was the leading market for all commercial vehicle segments.

In December, new commercial vehicle registrations grew 14.8 percent to 191,826 units. Italy logged the biggest increase of 23.2 percent, closely followed by Spain with 23 percent.

Sales in the UK gained 20.3 percent and those in France and Germany rose 9.4 percent and 8.7 percent, respectively.

The material has been provided by InstaForex Company – www.instaforex.com