The new light commercial vehicle (LCV) market continues to perform well in February 2016, which is usually one of the quieter months of the year.
Official figures from the SMMT (Society of Motor Manufacturers & Traders), show February’s LCV market reaching the same high as February 2016 with 13,891 new registrations.
Light van, sub 2.5 tonnes, registrations are still down, as the demand for heavier vehicles continues to grow, seeing the 2.5-3.5 tonne market up by 6.2% on last year.
Mike Hawes, SMMT Chief Executive: “After a record-breaking year for new van registrations in 2015, it was inevitable that such rapid growth would level off. The market’s performance so far this year is in line with expectations, and although further stabilisation is expected over the coming months, this is a sector in good health – with February’s figures still at high levels.”
Simon Joyce, MD of Anchor Vans advises that this ongoing influx of new vans to the market will filter through to benefit the used van market over the coming years, which ultimately means more choice available at lower prices.