The only LCV segment to see an increase in demand in May was pick-up trucks, up 26.2% to 3,930 vehicles, following a continuing trend.
According to figures released by the Society of Motor Manufacturers and Traders (SMMT), a total of 26,892 new LCVs were registered in May, representing a 5.3% drop in demand. This followed the more dramatic decline of 18.8% in April.
Year-to-date registrations are down 5.0%.
Aside from pick-ups, all other LCVs segments saw a drop in demand. Demand for 2.0-2.5-tonne vans was down 2.1%, for 2.5-3.5-tonne vans down 10.1% and for vans weighing less than 2.0 tonnes down 0.8%. The most dramatic change was in the 4×4 segment, where new registrations were down 91.6% to just 28 vehicles, compared with 332 in May last year.
The most concerning number in the table above will be the 10% decline in the largest market segment, vans over 2.5 tonnes. This segment had experienced the strongest growth over the last year, so a sharp decline in May will be unwelcome news for dealers and manufacturers.
Mike Hawes, SMMT Chief Executive, said that May’s “decline was expected as the market stabilised” and that the SMMT “expect demand to remain stable at similar levels throughout the year”.