Pick-up demand helps van market return to growth
LCV registrations saw a rise in June following four consecutive months of decline.
Latest figure from the Society of Motor Manufacturers and Traders (SMMT) show that new van registrations rose 1.8%, reaching 37,349 units in June 2017.
Growth was driven by the booming pickup market, up 14.2%, to almost 5,000 units, with the segment now reporting positive figures for 17 consecutive months Medium sized vans (> 2.0-2.5t) also enjoyed a significant boost, up 29.9%, while demand for small vans <= 2.0t rose by 2.3%, reversing the negative trend seen over the past year.
In contrast, H1 registrations saw a 3.7% decline, but volumes remain at a high level, with the year-to-date total of 184,926 vans some 54% higher than five years ago.
Mike Hawes, SMMT chief executive, said: “After two years of record growth in the new van market, it’s natural to see demand ease as the sector reaches a sustainable running rate. However, as these figures show, the market remains at a high level and we expect similar patterns of demand to continue throughout the year.”
For more of the latest industry news, click here.