New van registrations rose by 19.6% to 58,744 units in September, according to the Society of Motor Manufacturers and Traders (SMMT).
The latest figures from the SMMT show that September’s gains were slightly above the 17.4% average seen so far this year:
UK van and truck registrations: 2015 and % change on 2014
| September | % change | Year-to-date | % change | Rolling year | % change | |
| Vans | 58,744 | 19.6% | 284,161 | 17.4% | 363,776 | 18.1% |
| Trucks | 6,709 | 24.8% | 37,141 | 35.6% | 51,225 | 4.0% |
| Total | 65,453 | 20.1% | 321,302 | 19.2% | 415,001 | 16.1% |
(Data courtesy of SMMT)
Last month’s figures were probably boosted by the introduction of the 65-plate, but seem to present a more encouraging picture of the wider economy. Mike Hawes, the SMMT’s chief executive, believes this reflects improved confidence among business owners:
“The continued recovery of the commercial vehicle market is good to see. Particularly encouraging is the consistent growth seen this year in the traditionally more volatile truck sector, while the van market – buoyed by robust business confidence and the ongoing trend towards online deliveries – shows no sign of slowing.”
As I wrote recently, strong new van sales are causing softer conditions in the used van market. I suspect that the latest SMMT figures are an indicator that used van market conditions are likely to soften further before stabilising.
However, the relentless rise in new LCV (van) registrations suggests to me that market demand for vans may be strong enough to prevent a collapse in second-hand prices:
Van and truck registrations, Jan 2010 – Sept 2015 (courtesy of SMMT)
As usual, demand was strongest in the 2.5-3.5t van sector. Registrations rose by 24.3% to 23,105 units in September, accounting for 58% of total LCV registrations during the period. Larger vans in this weight bracket account for the majority of daily van rental, courier and many other fleets, making them a crude but effective indicator of business confidence and capital availability.
Demand for pick-up models was also strong, climbing by 32.9% to 7,565 during the period and meaning that pick-ups outsold sub-2.0t vans during September. That’s pretty remarkable when you consider how few people have any real requirement for these models. Clearly the dictates of fashion and the tax benefits for small business owners who run a pick-up as their sole vehicle are compelling.