Van registrations set new record for May
New van registrations continued to rise in May, setting a new record for the month with more than 28,000 sales. However, while the market remains buoyant, there are signs of slowing demand.
The UK registered 28,480 vans and pick-ups in May, according to the Society of Motor Manufacturers and Traders (SMMT) - a 1.9 per cent increase on the same period in 2015.
Large panel vans - 2.5 to 3.5 tonnes - accounted for the majority of sales with 18,923 vehicles registered - 13.3 per cent increase. Pick-ups also enjoyed a good month, with 3114 registrations, which marks a 5.6 per cent increase on the same period last year.
However, while the market was buoyant overall, vans in the 2.0 - 2.5 tonne sector experienced a significant drop of 20.1 per cent while compact panel vans were also down by 15.7 per cent.
Mike Hawes, chief executive of the SMMT, said, “Although May was a record breaking month for the UK’s light commercial vehicle market, the pace of growth is easing and is indicative of the performance we anticipate this year following the very high levels of demand seen in 2015.
"We expect the LCV sector’s good health to prevail during the remainder of 2016 as consumer appetite for online deliveries continues to grow.”
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