The light commercial vehicle market up to 3.5 tonnes grew by 13.3% in October according to the latest SMMT LCV figures as van production across Europe is ‘almost back to normal’.
Following the increase in September, it is positive to see that registrations of light commercials continued to perform well in October thanks to an improvement in supply as van production is almost back to normal across Europe
Demand was strong across all segments except pick-ups where registrations are generally driven by retail customers in the leisure market and the agriculture sector, which is currently facing uncertainty as the UK prepares to leave the EU. The reduction of model ranges available has also harmed the sales of pick-ups.
The heavy 2.5 – 3.5 tonnes sector saw the biggest uplift, up by 26.8% from 16,373 units last year to 20,492 vehicles this October. These light commercials are the mainstay of the LCV market representing around 63% of all light commercials registered.
The use of these vans for the delivery of goods bought online, as well as the sales of vehicles that were previously held back due to the lack of supply drove registrations in this segment in October.
With the England lockdown in November and the additional measures across the rest of the country, the semi-retail demand for double-cab vans and pick-ups could decline further. However, this will not directly affect the supply for fleets and corporate buyers who have already placed their orders for larger LCVs. As a result, we expect the LCV market to remain stable over the coming weeks.