UK new van market finishes year down -20.0%

UK new van market finishes year down -20.0%

Posted 06 January, 2021 at 15:00

Author Mark Bradshaw on behalf of (IFM) Independent Forecourt Magazine


Additional Images

SMMT NEW VAN REGISTRATIONS
6 January 2021 (data for vans <3.5T and HCVs to 6T for December 2020)
UK new van market finishes year down -20.0%

  • UK new light commercial vehicle (LCV) registrations end 2020 down -20.0%, some 73,121 units fewer than last year.
  • Sector growth slowed at the end of a turbulent year, with registrations falling -1.0% in December.
  • 292,657 of the latest, cleanest models hit UK roads in 2020 to renew and expand existing fleets.

 

Wednesday 6 January, 2021 UK new light commercial vehicle (LCV) registrations ended 2020 down -20.0%, with the van market rounding off the year in decline following three months of growth, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT). 292,657 vehicles were registered in 2020, as the impact of Covid and uncertainty over the future relationship with the EU brought down demand toward the end of the year, with registrations in the final month of the year dropping -1.0%, albeit with volumes consistent with previous Decembers.

 

Throughout the year the LCV market responded to fluctuating demand, flexing to adjust as lockdown measures affected consumer behaviour and business operations. The first sub-300,000-unit year since 2013 delivered a shortfall of more than 73,000 with a cost to the sector of some £2 billion in retail value. Despite the sector stepping up to meet demand brought about by the rise of online shopping and corresponding deliveries, the effect of the pandemic on businesses, and thus the wider economy, has overall subdued demand, shrinking the van market by a fifth in 2020.

 

All van segments saw a decrease in the year, with small vans weighing less than or equal to 2.0 tonnes down -34.4%, medium vans weighing more than 2.0-2.5 tonnes down -15.6% and larger vans weighing more than 2.5-3.5 tonnes down -16.5%. Demand for new pickups and 4x4s fell by -32.7% and -10.6% respectively.

Mike Hawes, SMMT Chief Executive, said, “It’s been a truly extraordinary and testing year for the commercial vehicle sector. From keeping services running, to getting key workers, goods and medicines from A to B, manufacturers and operators alike have adapted to multiple unpredictable challenges. Undeniably the LCV market, having shrunk by a fifth, has a lot of hurdles to overcome as we enter 2021. However, investment in fleet renewal will be key to driving recovery, and the sector’s resilience, now coupled with added clarity over UK-EU trading relations and the rollout of vaccines, offers hope for both the van market and the wider economy.”

More from (IFM) Independent Forecourt Magazine

Newell & Wright Motorsport finishes BTRC season on high
Press Release

Newell & Wright Motorsport finishes BTRC season on high

26 November 2021
NIO 333 Formula E Announces New Senior Management Team
Press Release

NIO 333 Formula E Announces New Senior Management Team

25 November 2021
David Brown Automotive Speedback GT at exclusive Riyadh Car Show
Press Release

David Brown Automotive Speedback GT at exclusive Riyadh Car Show

24 November 2021
International reach: Ferrari collection auctioned by Car & Classic
Press Release

International reach: Ferrari collection auctioned by Car & Classic

24 November 2021