Could this finally be the end of LDV, as we know it? Many people have written the organisation off time and time again throughout its chequered history. The Birmingham van maker is no stranger to administration, but if no money appears before the 6th May deadline surely this must be the final time.

The Chancellor’s Budget delivered yesterday heralded the introduction of the long-awaited vehicle scrappage scheme.

To our utter shock and surprise, vans up to 3.5 tonnes are included in the deal as well. Usually commercial vehicle owners are the first in the Firing line for financial penalties.

As a result of the sharp decline on world markets for heavy vehicles, the Volvo Group is being forced to implement new personnel reductions within its Swedish operations.

The Chancellor has doubled the first year capital allowance to 40 per cent. This will hopefuly be an incentive for business to make capital investments. This measure will be particularly welcomed by commercial vehicle dealers who have been hard hit by the recession and have seen sales fall by nearly 50 per cent.

Europe’s leading trailer maker, Schmitz Cargobull says the European trailer market has collapsed. The firm says registrations are down “drastically” and trailer makers have seen orders drop 94% in the first quarter of the year