The new van market achieved a steady performance in February, with registrations at the same level as this time last year, when the sector recorded a seven-year high.
February is traditionally one of the quietest months of the year but 13,891 new light commercial vehicles (LCVs) were registered last month.
Registrations of new vans below 2 tonnes and between 2 to 2.5 tonnes fell by 10.5% and 23.9% respectively in the month, but this was offset by an uplift of 6.2% in the 2.5 to 3.5-tonne segment as demand for heavier vehicles continued to grow.
Ford continued to lead the commercial vehicle market with CV registrations close to triple those of its nearest rival in February. Fiesta Van, Transit Courier, Transit Custom, Transit and Ranger are all first in their respective market segments.
Sales of Ford CVs were up 20.1% at 4,598, compared with February 2015 while Ford’s CV market share in February was 27.5%, up from 23.4% in February 2015.
Mike Hawes, SMMT chief executive, said, “After a record-breaking year for new van registrations in 2015, it was inevitable that such rapid growth would level off. The market’s performance so far this year is in line with expectations, and although further stabilisation is expected over the coming months, this is a sector in good health – with February’s figures still at high levels.”