New van registrations rose 1.8% in February, marking the second month running of growth.
Despite February normally being a quiet growth, the figures from the Society of Motor Manufacturers and Traders (SMMT) show 249 more vans and pick-ups were registered last month – credited as the result of strong market incentives.
Large vans weighing 2.5-3.5 tonnes were a key factor in the growth, rising 4.2% to take 65.0% of market share. Car-derived vans weighing 2.0 tonnes also saw an increase, up 4.6%. Meanwhile, demand for pick-ups and medium-sized vans experienced falls in registrations, down 2.4% and 4.5% respectively.
The market is also up year to date, with a total of 36,620 new LCVs registered, up 5.8% on the first two months of 2018.
Mike Hawes, SMMT chief executive, said: “While stability in the new van market in February is welcome news, it is important to remember that February is typically a quiet month, as buyers await the March plate change. The increase follows a turbulent few months for van registrations and the effect of ongoing political and economic uncertainty on business confidence is likely to result in further fluctuations throughout the year.”
