LCV market down by a fifth
UK new light commercial vehicle (LCV) registrations ended 2020 down 20%, with the van market rounding off the year in decline following three months of growth.
This is according to the Society of Motor Manufacturers and Traders (SMMT). It found that 292,657 vehicles were registered in 2020, with registrations in the final month of the year dropping one per cent. The first sub-300,000-unit year since 2013 delivered a shortfall of more than 73,000 with a cost to the sector of some £2bn in retail value.
Mike Hawes, SMMT chief executive, said: “It’s been a truly extraordinary and testing year for the commercial vehicle sector. From keeping services running, to getting key workers, goods and medicines from A to B, manufacturers and operators alike have adapted to multiple unpredictable challenges.
“Undeniably the LCV market, having shrunk by a fifth, has a lot of hurdles to overcome as we enter 2021. However, investment in fleet renewal will be key to driving recovery, and the sector’s resilience, now coupled with added clarity over UK-EU trading relations and the rollout of vaccines, offers hope for both the van market and the wider economy.”
