LCV market grows in February
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 by the Society of Motor Manufacturers and Traders (SMMT).
It found 249 more vans and pick-ups hit British roads in February 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% 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.’
