LCV registrations fall in May
Van registrations declined in May, with the downturn attributed to a market rebalance following a period of very strong demand.
The figures from the Society of Motor Manufacturers and Traders (SMMT) show a total of 26,982 new vans were registered last month, representing a fall of -5.3%.
Although demand for pickups continued to grow – up 26.2% – all other segments declined. Registrations of vans weighing 2.0-2.5 tonnes were down 2.1%, while vans weighing 2.5-3.5 tonnes fell 10.1%. The under 2.0 tonne segment remained steady, with a 0.8% decline. Rigids from 3.5t to 6.0t were down 8.9%.
Mike Hawes, SMMT chief executive, said, “LCV registrations have experienced a period of stellar growth in recent years, so this decline was expected as the market stabilises. To put this performance into context, overall demand remains strong with year-to-date registrations up 51.2% compared with the same period five years ago, and we expect demand to remain stable at similar levels throughout the year.”
Year to date, the LCV sector was down 5.0% to 147,577 units. Pickups remained upbeat with 19.0% growth but vans weighing under 2.0 tonnes were down 25.2%. Smaller falls were seen for vans 2.0-2.5t, down 0.8%, and 2.5t-3.5t, which fell 4.2%.
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