New LCV market falls for first time in five years, says SMMT

New LCV market falls for first time in five years, says SMMT

According to figures recently released by Society of Motor Manufacturers and Traders(SMMT), the new Light Commercial Vehicle(LCV) market witnessed a decline in 2017 with a 3.6% fall over 2016.

The figures showed that although there was a decline of 3.6%, that 362,149 new vans and pick-ups were registered highlighting the fact it was still an excellent year for LCV manufacturers.

The small van market which includes vans weighing less than 2.0 tonnes showed a steep decline, with registrations falling by a 1/5 (20.3%) to 29,407 new vans.

As well as the small van market, the medium and large van market, weighing from 2.5 to 3.5 tonnes fell by 3.1% to 225,837.

On the other hand, there was better news in December for pick-ups, which rose 6%. The 2.5 – 3.5 tonne van market saw a 7.5% rise, a 5.7% drop for 2.0 – 2.5 tonne and a 20.4% fall for vans under 2.0 tonnes.

Although the overall 2017 figures showed a decline, the year ended on a more positive note with LCV registrations in December increasing by 2.9% altogether to 28,016.

SMMT Chief Executive Mike Hawes said: “While the market has slowed in 2017, this was in line with expectations and demand remains at a high level.

“In fact, LCV registrations have increased 62.5% since 2010.

“For 2018, however, we expect the economic and political uncertainty to continue to affect the market so government must rebuild business confidence and encourage operators to invest in new vehicles given fleet renewal is the fastest way to reduce overall emissions.”

Among LCV manufacturers, it was a good year for the likes of Toyota, which saw registrations rise by 27.18%.

Other manufacturers to record rises included Mitsubishi (20.23%), Peugeot (9.01%), Fiat Professional (6.41%), and Mercedes-Benz (5.81%).

Trending the other way, there were falls in registrations for manufacturers including Iveco (28.21%), Vauxhall (24.81%), Renault (23.97%), and Volkswagen (8.56%).

Market leader Ford saw a 1.97% increase in annual registrations, taking the total to 117,831 – nearly three times as many as second-placed VW, with 41,474.

The Ford Transit Custom was by far the year’s best selling van, with 51,885 registrations, ahead of its Ford Transit sibling on 27,062, and the Mercedes-Benz Sprinter with 23,588.