After storming ahead during the first half of the year, new van registrations stalled in July, falling by 0.9% compared to the same period in 2014.

According to the latest figures from the Society of Motor Manufacturers and Traders (SMMT), July’s flat results mean that van registrations have risen by 17% so far this year, compared to the first seven months of last year.

UK van and truck registrations: 2015 and % change on 2014

Data courtesy of SMMT (www.smmt.co.uk)

According to Mike Hawes, SMMT chief executive, July’s slowdown may be the result of an exceptional surge in July last year, when several new van models hit the showrooms:

“The commercial vehicle market’s record performance in the first half of the year has been followed by a more sedate July, underpinned by a slight fall in van registrations. This is not surprising given a particularly big uplift in the same month last year on the back of the launch of several new key models.

Demand is still at a very high level, with year-to-date van registrations up 17% as confident businesses continue to invest in their fleets and capitalise on the ongoing trend for home deliveries.”

Mr Hawes singled out the home delivery market as a growth area and the statistics seem to back this up. Registrations of vans in the 2.5-3.5t sector, which are the size used by couriers, rose by 16.2% to 15,599 in July, while registrations of smaller vans fell by up to 34% (2.0-2.5t).

The 2.5-3.5t sector has seen the biggest gains in 2015, with registrations rising by 21% to 122,431 vans during the first seven months of the year.

To finish on a positive note, let’s have a look at this graph, which shows that total CV registrations so far this year are well ahead of the average levels seen before the financial crisis, between 2003 and 2008:

CV registrations for the 7 months to July for 2013-2015 and 2003-2008 (courtesy of SMMT)

This reassuring graph suggests to me that van buyers are both more confident and perhaps making up for deferred fleet renewals of previous years.

As the second half of the year unfolds, we should get an idea of how sustainable this increased level of demand is. Are businesses really expanding?