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UK new van market stable in February

05 March 2019 #LCVs #News #Registrations #SMMT News #TNB News #Van
  • New van registrations rise 1.8% to 14,384 units in February 2019.
  • Growth driven by rise in demand for large vans weighing 2.5-3.5t, up 4.2%.
  • Year-to-date registrations increase by 5.8%.

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The UK new light commercial vehicle (LCV) market remained stable in February, with year-on-year demand growing by 1.8%, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT). 249 more vans and pick-ups hit British roads in February (typically one of the year’s smallest months) compared with 2018, as strong market incentives boosted registrations.

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.

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