Large Vans Drive Growth in October UK New LCV Market

Demand for new light commercial vehicles (LCVs) increased in October, according to the latest figures released on Monday 5th November by the SMMT.  More than 28,000 vans and pick-ups joined British roads in the month, representing a 14.1% increase in registrations, as demand continued to fluctuate throughout 2018.

Year-to-date totals show 302,741 new LCVs have been registered, representing a drop of -1.6% on the first 10 months of 2017, and in line with current forecasts. However, demand remains at a high level, up a third (33.0%) on the same period in 2013.

Mike Hawes, SMMT Chief Executive, said, “While it is positive to see a boost for new vans in October, the growth comes on the back of a turbulent 10 months, with ongoing fluctuations in demand. Although the sector remains strong, we expect this trend to play out over the remainder of the year, as ongoing political uncertainty affects business confidence and hence operator investment.”