- Light commercial vehicle registrations fall -5.3% in May, as market rebalances following two years of exceptional demand.
- Pickups demand continues to grow – up 26.2% – but all other segments decline.
- Year-to-date van registrations down -5.0%, but market remains at a high level.
SEE THE LATEST LCV REGISTRATIONS BY BRAND
The light commercial vehicle market (LCV) declined in May following a period of exceptionally strong demand, according to figures released by SMMT. 26,982 new vans hit British roads in May, representing a fall of -5.3%.
Demand for pickups continued its upward trend, with registrations increasing 26.2% compared with the same month last year. However, the medium and large van segments experienced a decline, with registrations of vans weighing 2.0-2.5 tonnes down -2.1%, while vans weighing 2.5-3.5 tonnes fell -10.1%. The under 2.0 tonne segment, meanwhile, remained steady, with an -0.8% decline representing just 20 fewer small van registrations than May 2016.
Mike Hawes, SMMT Chief Executive, said,
LCV registrations have experienced a period of stellar growth in recent years, so this decline was expected as the market stabilises. To put this performance into context, overall demand remains strong with year-to-date registrations up 51.2% compared with the same period five years ago, and we expect demand to remain stable at similar levels throughout the year.