Van Sales Fall to Five-Year Low for Fifth Straight Month
Registrations of new light commercial vehicles (LCVs) plummeted by -14.9% in April, reaching a total of 20,332 units. This decline marks the fifth consecutive month of falling sales and represents a five-year low, according to data released by the Society of Motor Manufacturers & Traders (SMMT).
The SMMT attributed the slump in sales to a late Easter and weak business confidence, with many businesses opting not to renew their vehicles. April’s performance was noted as the worst since 2020. The decline was most pronounced in the largest new vans category, with registrations dropping by -22.9% to 12,113 units. Despite this, they still accounted for nearly six in ten (59.6%) new LCVs registered.
Deliveries of medium and small vans also experienced a downturn, falling by -5.8% and -5.5% to 4,344 and 571 units, respectively. However, the overall contraction was somewhat mitigated by growth in other segments. Registrations of new 4×4 vehicles rose by 19.2% to 564 units. More significantly, pickup registrations increased for the second consecutive month, surging by 10.2% to 2,740 units. This uptick in pickup sales is likely attributed to the fulfillment of orders placed before the introduction of new fiscal measures that treat double-cabs as cars for benefit-in-kind and capital allowance purposes.
Mike Hawes, SMMT chief executive, commented, “Five months of shrinking demand for new vans reflects weaker business confidence and a challenging economic environment.” The data underscores the ongoing struggles within the commercial vehicle sector amid broader economic uncertainties.
