Light Commercial Vehicle (LCV) registrations grew by 2.4% in May with encouraging signs coming especially from the mid-size vans between 2.0 - 2.5 tonnes, often used as service vehicles, which saw a significant growth of 21.5%.
Light commercial vehicles up to 3.5 tonnes rose marginally by 2.4% in May totalling 27,639 units. Year-to-date, the market is -1.4% down compared with 2017 to 145,514 units. The market is still a third higher than five years ago.
It was pleasing to see large vans between 2.5 - 3.5 tonnes improve by 2%. This represents a very important segment of the market as it accounts for 61% of all light commercial vans registered in the sub 3.5 tonnes arena. The majority of these vehicles are bought by big fleet organizations and used in the online delivery business, the increase in registrations indicates that the growth is mainly driven by online consumer purchases.
Following the constant growth over the past few years, registrations of ‘pickups’ saw a marginal decline in May of -2.3% but remain up 0.6% year to date on 2017. These vehicles are largely bought by tradesmen and self-employed who use them for both business and pleasure. The segment seems set to remain at these levels, but it does represent only 15% of all light commercials sold.
The light commercial market has been very strong in the last few years and with the growth of online sales and SMEs offering mobile services to consumers, it is expected to remain stable.
If you would like to receive the monthly LCV registration figures please contact louise.woods@rmif.co.uk
