Van registrations up 2.4% in May
Light commercial vehicle (LCV) registrations were up for the second month running in May, latest figures from the Society of Motor Manufacturers and Traders (SMMT) show.
A total of 27,639 LCVs hit the road last month, up 2.4%. This follows a 3.9% increase in April and the 5.6% decline seen in March.
Demand in May saw registrations for mid-size and larger vans grow by 21.5% and 2.0% respectively, helping offset a 21.0% decline in smaller vehicles weighing less than 2.0-tonnes. Pick-ups also fell, with 3,826 registered in the month, down 2.6%.
In line with five months of fluctuations, registrations for the first five months of the year were down by 1.4% on the same period last year. However, the total of 145,514 vans and pick-ups is a third (34.8%) higher than five years ago.
Mike Hawes, SMMT chief executive, said: “It’s reassuring to see a bit of stability in the van market. Variations in buying cycles are a natural feature and, despite the year-to-date decline, it’s important to remember that demand remains at an historically high level. Barring any unforeseen shocks, we expect the rest of the year to follow a similar pattern, in line with forecasts. To drive long-term growth, however, we need the right economic conditions to give businesses the confidence to invest in their fleets.”
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