With August marking the best month for more than a decade for the new van market, the light commercial vehicle (LCV) sector seems to be one of only a few to be bucking the trends following our recent exit from the European Union. As a leading supplier of commercial vehicles, David Spear is renowned not just in Wales but the rest of the UK, and as a company they make it their mission to deliver market insights to their customers and the wider van market.
Last month alone saw record numbers of new vehicles make their way onto UK roads, 15,385 vehicles in total were registered. This figure has rose by 6.3% since last year and marks the best LCV performance in 11 years, and according to David Spear Commercial Vehicles things are only going to get better.
“In regards to the LCV market, the solid performance seen in August will continue and growth forecasts are good for the next few years. As a whole the LCV market is thriving but excitingly these figures are also reflected regionally. Demand in the SME sector for commercial vehicles is what has resulted in this rise and the economy shows no adverse effect since Brexit,” said Owner David Spear.
Pickups and heavy vans have seen the biggest rise, and according to figures published by The Society of Motor Manufacturers & Traders (SMMT), demand for 2.5-3.5T vehicles has grown by 14.4% and now this LCV type accounts for 63% of the market.
“Whether it’s the popular pickup or heavy van that you want to invest in or another LCV, it’s all about the right product and the right pricing, and that’s an ethos that sits at the very heart of our company. As business grows for SMEs, they are more willing to take advantage of the low interest rate finance packages and discounts available from suppliers, and with that the predicted 48% rises in used LCV stock by 2019 is also looking like it could be a reality,” concluded David.