Finance provider LDF said many small companies were pushing their commercial vehicles to the “absolute limit” because of the financial climate, meaning that many business vehicles are at least 10 years old.
It means for the first time, more than a million vans on the road (31 per cent) are at least a decade old, up from the pre-credit crunch 2007 total of 690,000 (22 per cent), Sky news reports.
LDF managing director Peter Alderson said: “A lot of small businesses are pushing their vans and other parts of their commercial vehicle fleet to the absolute limit, with many often well beyond their useful economic life.
“It is not just the repair costs and efficiency of these older vans that create problems – there’s also the very substantial negative impact on the business’ brand of using tired, dated vehicles and additionally, the potential environmental factors to consider.”
These figures highlight the economic uncertainty that many business owners face, as they continue to squeeze on lending.