CV sales dip in February
The new light commercial vehicle market declined in February, falling -4.3% to 13,291 registrations, according to figures released by the Society of Motor Manufacturers and Traders (SMMT).
The downturn follows an exceptionally strong performance in 2016, when the sector recorded an eight-year high in registrations.
Reversing the trend seen in previous months, demand for heavier vans fell, with registrations of vehicles weighing 2.5-3.5t down -1.3%, small vans under 2.0t fell -28.5%, while pick-up registrations remained the same at 1,350 units. Meanwhile, demand for mid-sized vans (2-2.5t) increased nine per cent.
Mike Hawes, SMMT chief executive, said, ‘February is typically a quiet month as buyers look ahead to the March plate change and, following the rapidly growing levels of demand we’ve seen over the past two years, a decline is not unexpected. The sector remains in good health and, barring any shocks to business confidence, we expect demand to remain strong over the coming months.’