Registrations of new light commercial vehicles (LCVs) increase by 22.0% to 17,205 units in February. Growth driven by increased demand for larger vans, up 30.0% on last year. Year-to-date market up 9.5%, with 41,234 vehicles registered in 2021.
UK's New LCV Market Registrations Grow
The UK new light commercial vehicle market grew by 22.0% in the second month of the year, according to the latest figures released by the Society of Motor Manufacturers and Traders (SMMT). Usually one of the year’s weaker months as many operators wait for the new March number plate, 2021 saw the strongest February since 1998, with 17,205 new models hitting UK roads as demand from the construction sector and online deliveries drove new vehicle uptake.
Larger vans weighing more than 2.5-3.5 tonnes and pickups experienced the biggest surge in demand, up 30.0% to 11,809 and 26.8% to 1,716 units respectively. Meanwhile 4x4s and medium sized van registrations were up a moderate 6.3% and 9.0%. It was a different picture for smaller vans weighing less than or equal to 2.0 tonnes, which were down -25.3% to just 689 vehicles registered in the month.
Performance in the year-to-date is up 9.5% overall, driven entirely by demand for popular 2.5-3.5t vans with some 6,069 more of these vehicles registered in the first two months of the year. However, the rest of the market continued to fall, struggling to overcome the ongoing impact of Covid on business confidence.
Mike Hawes, SMMT Chief Executive, said, “These figures are welcome news, but it’s important to remember that February is typically a small volume month ahead of the March plate change and we want to see this growth continue throughout the year. Capitalising on this momentum will be important and an economic plan that encourages growth could help pivot the LCV market toward full recovery. With a clear roadmap now in place for how the nation can safely emerge out of lockdown, businesses can look to the next few months with increasing confidence and upgrade their fleets with the many latest, most efficient vans on the market.”