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- August records best LCV performance in 11 years, with 15,385 new vehicles registered, up 6.3%.
- Vans weighing >2.5-3.5T see biggest rise, with demand growing 14.4% to account for 63% of the market.
- Year-to-date figures see steady growth, up 2.9% with 231,857 registrations so far in 2016.
Monday 5 September 2016 The new light commercial vehicle (LCV) market achieved a solid performance in August, growing 6.3% compared with August 2015, figures published today by the Society of Motor Manufacturers and Traders (SMMT) reveal. 15,385 new LCVs were registered in Britain – the highest volume for the month since 2006, as businesses took advantage of low interest rate finance packages and discounts.
Continuing the trend set in recent years, the market in August was driven by two key segments: pickups and heavy vans (>2.5-3.5T), both of which saw growth, with demand up 6.9% and 14.4% respectively. Overall performance for the first eight months of the year remained steady, with a 2.9% increase in demand totalling 231,857 new van registrations.
Mike Hawes, Chief Executive, SMMT, said, “After a slower July, it is good to see growth in the new van market pick up again in August, with a record made in this traditionally quiet month. To ensure this performance continues, it is vital that government takes the necessary steps to secure economic stability and maintain confidence for operators to continue to invest in their fleets.”