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Thursday 23 November 2017

Half-year 2017 new LCV sales show slowdown

SMMT LogoWith the release of the official Society of Manufacturers & Traders (SMMT) LCV (up to 3.5 tonne) registration figures for June it’s becoming apparent that the unprecedented growth seen in recent years has peaked. A total of 37,349 vehicles were sold in June, an increase of 1.8 per cent compared with the same month last year, which takes the year-to-date tally to 184,926; that represents a drop of 3.7 per cent compared with the same period in a record-breaking 2016.

This is nothing to worry about on the face of it, simply indicating that the market is stabilising following a period of exceptional sustained growth. Despite a 5.4 per cent fall in registrations of vans in the 2.5t – 3.5t sector in June, this was more than compensated for by rises of 14.2 per cent and 29.9 per cent in the pick-up and 2.0t – 2.5t sectors respectively.

“Over recent years the van market has seen some spectacular growth, the last two being records for new LCV registrations,” said SMMT commercial vehicle manager, Nigel Base. “As with all good things, they eventually come to an end and this year we have seen the market settling down to more stable levels, albeit at a much higher level than anyone would have predicted five years ago.

“Even with demand easing, the vehicle parc will continue to grow. Currently at 4.2m, we expect it to rise to 4.5m over the medium term. Not only are there more vans on the road, but they are larger with each carrying more goods for operators and annual mileage is also increasing.”

In conclusion, Base said: “There are a number of reasons for this growth, in particular the rise of internet shopping and home deliveries. However, a recent report by the RAC Foundation suggests this is not the whole picture. What may be driving the increase in van numbers is a structural shift in the way goods and services are delivered to businesses and the consumer.”

Related Article
New van sales buoyant at start of 2017
New van sales reach new high in 2016

UK LCV REGISTRATIONS June, 2008 – 2017
LCV Sales June 2017

UK LCV REGISTRATIONS Year-to-Date, 2008 – 2017
LCV Sales June 2017

LCV Sales June 2017

LCV Sales June 2017

LCV Sales June 2017

UK LCV REGISTRATIONS 2007 – 2016
UK LCV REGISTRATIONS January, 2008 – 2017
UK LCV REGISTRATIONS January, 2008 – 2017
UK LCV REGISTRATIONS January, 2008 – 2017
UK LCV REGISTRATIONS January, 2008 – 2017
UK LCV REGISTRATIONS January, 2008 – 2017

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