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.”

  • Show Comments

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You May Also Like

The Electrical Industries Charity is all set for the London Marathon

The Electrical Industries Charity is all set for the London Marathon  The Electrical Industries ...

Ex-Or Moves To Honeywell’s Horsham Facility

Ex-Or has announced its plans to move to Honeywell’s development centre for building control ...

Joint Industry Board launches new member campaign

Joint Industry Board launches new member campaign Electrical contractors looking to grow and recruit ...