New van market matches 2015 high in February
4 Mar 2016- Solid performance for new light commercial vehicle sector in February with demand steady at 13,891
- Market for small and mid-sized vans down as operators move to bigger vehicles.
- Strong growth in heavy segment, with demand for 2.5-3.5T vans up by 6.2%.
4 March, 2016聽The new van market achieved a steady performance in February, with registrations at the same level as this time last year, when the sector recorded a seven-year high. 13,891 new light commercial vehicles (LCVs) were registered in February 鈥 traditionally one of the quietest months of the year.
Registrations of new vans below 2.0 tonnes and between 2.0-2.5 tonnes fell by 10.5% and 23.9% respectively in the month, but this was offset by an uplift of 6.2% in the 2.5-3.5 segment as demand for heavier vehicles continued to grow.
Mike Hawes, SMMTChief Executive, said, 鈥淎fter a record-breaking year for new van registrations in 2015, it was inevitable that such rapid growth would level off. The market鈥檚 performance so far this year is in line with expectations, and although further stabilisation is expected over the coming months, this is a sector in good health 鈥 with February鈥檚 figures still at high levels.鈥
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