New van market declines
- 07/08/2018
- Posted by: Simon Wait
- Category: News
The UK new light commercial vehicle (LCV) market declined -5.9% in July, with 23,309 vans and pick-ups registered, according to figures released by the Society of Motor Manufacturers and Traders (SMMT).
While pick-ups enjoyed a particularly popular month, with a 13.9% uplift in registrations, demand for small, medium and large vans fell by -2.8%, -28.0% and -3.8% respectively. Year-to-date registrations are down -2.7%, with 204,005 new LCVs joining British roads since January, a result of fluctuating fleet buying cycles coupled with ongoing low business confidence.
Mike Hawes, SMMT chief executive, said, ‘While variations in buying cycles are a natural feature of the light commercials sector and demand is still at high levels, the overall trend is one of decline. Ongoing uncertainty and low business confidence are undoubtedly having an effect; therefore government must address these concerns and create the conditions necessary for the market to prosper.’
