Light Commercial Vehicle (LCV) registrations up to 3.5 tonnes decreased -5.9% in July, reflecting uncertainty in the economy and concerns over slow progress in Brexit negotiations.
All sectors in the market declined, with the only exception in the pickup market which was up 13.9% in July. Double-cab pick-up versions are often favoured by the self-employed, where the benefit-in-kind tax position makes these an attractive buy as a vehicle to be used for both business and personal use.
Vans in the 2.5 – 3.5 tonne sector declined -3.8%. This particular sector accounts for over 60% of light commercial sales and are the larger vans sold to corporate fleet buyers and often used for deliveries of retail products to homes.
Factors such as road tax changes or the soon to be introduced Worldwide Harmonised Light Vehicle Test Procedure (WLTP) emission standards for cars is not due to affect commercial vehicles of this size until September 2019. Therefore this month’s figures are a true and fair reflection of the market and generally indicate the caution expressed by all business in these uncertain economic times. To receive the monthly LCV registration figures please email louise.woods@rmif.co.uk
