LCV market suffers September slump
The UK new light commercial vehicle (LCV) market declined 23.5% in September, according to the latest figures released by the Society of Motor Manufacturers and Traders (SMMT).
It found that 41,216 LCVs were registered in the month, down some 12,632 units on September 2018, as regulatory changes, coupled with economic and political uncertainty, impacted the market.
September’s losses follow a period of sustained growth, with LCV registrations rising in every month of 2019 to August, as buyers responded to a wide range of deals and a raft of new models. In the year-to-date the market is up 4.5%, with more than 286,000 new vans hitting the road, most (62.2%) weighing 2.5-3.5 tonnes.
Mike Hawes, SMMT chief executive, said, ‘These figures are unusual as LCV registrations have been growing this year, but the impact of regulatory changes, coupled with ongoing political and economic uncertainty, distorted the market in September. Registrations for the year-to-date are still healthy, however, but for this to be maintained we need stability restored, which should give renewed confidence to businesses to invest in their fleets.’
