THE latest light commercial vehicle market figures for February 2018 showed positive growth.
The Society of Motor Manufacturers and Traders (SMMT) said it was the best February performance in a decade.
The van and pick-up market rose 6.4%. Compared to February 2017, there were 844 more vans and pick-ups registered in February 2018.
Mike Hawes, SMMT Chief Executive, said:
“February is typically a quiet month as buyers await the March plate change so the rise in demand is welcome news. However, with so much uncertainty in the UK at the moment and weak business confidence, we can expect further fluctuations in demand for the rest of the year.”
The February van market in brief
- New van registrations rise 6.4% to 14,135 units in February 2018.
- Increased demand sees best February performance in a decade.
- Year-to-date registrations remain steady.
What drove commercial vehicle growth in February?
Medium vans (2.0-2.5 tonnes) – or large trades vans such as Ford Transit Custom and Citroen Dispatch grew 19.9%. Pick-ups (such as the Mitsubishi L200) saw a 14.2% rise.
Meanwhile demand for large vans weighing 2.5-3.5 tonnes also increased by 2.5%. Car derived vans weighing less than 2.0 tonnes was the only segment to decline, falling -2.4%.
Meanwhile, year-to-date figures showed February’s rise in demand balanced January’s decline with only 44 less vehicles driven off forecourts this year compared to last said the SMMT.
What’s the view from the leasing industry?
Russell Adams, Commercial Vehicle Manager at Lex Autolease, said:
“With businesses gearing up to March’s number plate renewal we’d normally expect to see them holding off on new LCV purchases. So this uplift in registrations is a very encouraging sign.
“We’re now seeing a good number of enquiries from those looking to take advantage of the new plates this month.
“We continue to see interest in pick-ups, especially in the utilities sector, where businesses benefit from the role versatility and off-road capabilities these vehicles offer. We’re still seeing a good level of enquiries for vans in the 2.5 to 3.5 tonne range.
“As electric vehicle technologies progress and investment in the UK’s charging infrastructure increases, viable alternatives to conventionally-fuelled vans continue to improve.
“We will see new, heavier weight range electric vans introduced in 2018 that could provide some businesses with a genuine alternative to diesel for the first time.
“On top of this, electric vans should become viable for some heavier payload job roles when the Department for Transport’s plan to raise the maximum gross van weight is put into action.”
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