HGVs Registrations SMMT News

New van market matches 2015 high in February

04 March 2016 #HGVs #Registrations #SMMT News
  • Solid performance for new light commercial vehicle sector in February with demand steady at 13,891
  • Market for small and mid-sized vans down as operators move to bigger vehicles.
  • Strong growth in heavy segment, with demand for 2.5-3.5T vans up by 6.2%.

4 March, 2016 The new van market achieved a steady performance in February, with registrations at the same level as this time last year, when the sector recorded a seven-year high. 13,891 new light commercial vehicles (LCVs) were registered in February – traditionally one of the quietest months of the year.

UK van registrations rolling year totals Feb 2010 to-date 2016 chart

Registrations of new vans below 2.0 tonnes and between 2.0-2.5 tonnes fell by 10.5% and 23.9% respectively in the month, but this was offset by an uplift of 6.2% in the 2.5-3.5 segment as demand for heavier vehicles continued to grow.

LCV registrations 3 5T year-to-date registrations and split feb 2016

Mike Hawes, SMMT Chief Executive, said, “After a record-breaking year for new van registrations in 2015, it was inevitable that such rapid growth would level off. The market’s performance so far this year is in line with expectations, and although further stabilisation is expected over the coming months, this is a sector in good health – with February’s figures still at high levels.”

Download the release and charts in full.

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