LCV market up 1.5% in August

LCV market up 1.5% in August

SMMTAugust17VANThe Society of Motor Manufacturers and Traders (SMMT) has confirmed that the new light commercial vehicle (LCV) market remained steady in August, with 15,619 vans and pickups registered during the month.

The figure represents the best August performance in 12 years for LCV registrations. The best performance was a 39.9% growth in smaller vans weighing 2.0-2.5T, while the pickup segment also continued its upward trend, rising 8.0%. Demand for heavier vans was down for the fifth consecutive month, with registrations for vehicles weighing 2.5-3.5T down -0.6%. August broadly mirrored the year-to-date figures, with the market for pickups and smaller vans increasing by 14.4% and 11.4% respectively, while heavier van registrations declined -4.0%.

Mike Hawes, SMMT Chief Executive, commented, “August is traditionally one of the quietest months of the year, ahead of September’s plate change, so the moderate increase in the new van market is welcome news. While year-to-date figures show demand easing, this is in line with market expectations and overall registration volumes remain at a very high level. This stabilising of the market is indicative of what we can expect for the remainder of the year.”