UK Van Market Holds Steady In May With 2.4% Rise

The light commercial vehicle (LCV) market remained steady in May, rising 2.4%, as 27,639 new vans hit British roads, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). Demand for mid-size and larger vans grew by 21.5% and 2.0% respectively, helping offset a -21.0% decline in smaller vehicles weighing less than 2.0-tonnes. Pick-ups also fell, with 3,826 registered in the month, down -2.6%.

Following five months of fluctuations, 2018 year-to-date performance is down by -1.4% on the same period last year. However, with 145,514 vans and pick-ups registered so far in the year, demand remains a third (34.8%) higher than five years ago.

Mike Hawes, SMMT chief executive, said, “It’s reassuring to see a bit of stability in the van market. Variations in buying cycles are a natural feature and, despite the year-to-date decline, it’s important to remember that demand remains at an historically high level. Barring any unforeseen shocks, we expect the rest of the year to follow a similar pattern, in line with forecasts. To drive long-term growth, however, we need the right economic conditions to give businesses the confidence to invest in their fleets.”

You May Also Like

Lumicom warns of rising recycling costs for some lighting manufacturers

Lumicom warns of rising recycling costs for some lighting manufacturers With the volume of ...

Shortlist for ECA Industry Awards Announced

A shortlist of 26 leading businesses from across the electrotechnical and engineering services sector ...

Lutron brings the Athena architectural lighting solution to the global market

Lutron Electronics brings the Athena architectural solution to global applications. Athena is a simple, ...