UK new van market stable in February
SMMT figures have shown that the UK new light commercial vehicle (LCV) market remained stable in February, with year-on-year demand growing by 1.8%.
Compared to this month last year, 249 more vans and pick-ups were sold in February, which is typically one of the year’s smallest months.
Large vans weighing 2.5-3.5 tonnes drove growth, rising 4.2% to take 65.0% of market share. Car-derived vans weighing 2.0 tonnes also saw an increase, up 4.6%. Meanwhile, demand for pick-ups and medium-sized vans experienced falls in registrations, down -2.4% and -4.5% respectively.
Year-to-date, 36,620 new LCVs have been registered, representing a rise of 5.8% on the first two months of 2018.
Mike Hawes, SMMT Chief Executive, said: “While stability in the new van market in February is welcome news, it is important to remember that February is typically a quiet month, as buyers await the March plate change. The increase follows a turbulent few months for van registrations and the effect of ongoing political and economic uncertainty on business confidence is likely to result in further fluctuations throughout the year.”