With 2015 hailed as a record year for new van registrations, what will be in store for 2016?
Official figures from the SMMT (Society of Motor Manufacturers & Traders), show the 2016 commercial vehicle market levelling off in the first month of the year. After five consecutive months of growth, January 2016 registrations were down 4.3% on January 2015, with a total of 21,102 LCVs registered during January.
Whilst light van (sub 2.5 tonnes) registrations fell significantly, the larger 2.5-3.5 tonne market actually grew in January.
Mike Hawes, SMMT Chief Executive: “On the heels of a record-breaking 2015, which saw LCV registrations grow by an impressive 15.6%, January’s levelling off in demand comes as no surprise, and is indicative of what we can expect for the coming year. The overall market remains very strong, with business confidence high and the trend for home deliveries still growing.”
The influx of new vans into the market in 2015 will trickle through to benefit the used van market over coming years, with more choice available at lower prices for buyers.