New van market declines in October
New van registrations experienced a decrease in demand in October, for the second month running!
Statistics released by the Society of Motor Manufacturers and Traders (SMMT) today revealed a decrease of 7.4 percent in new van registrations in October 2017 in comparison with October 2016. A total of 24,968 new van registrations were made last month in comparison with 26,950 in October 2016, as the new van market declined for the second month in a row.
New van registrations
The decrease in October succeeds a decrease of 4.1 percent in September 2017 and is the second successive month of declines following three months of increases. SMMT Chief Executive, Mike Hawes attributed the decrease in demand to a decline in business confidence and focused on the important role of the government in stabilising the new van market:
"Following the recent revision to the new van forecast, this month's decline is not unexpected. While the market remains at a very high level, the recent decline in business confidence, caused by economic and political uncertainty, is now having an impact on van registrations. Government must therefore address these concerns and create the conditions necessary for the market to prosper."
Despite the overall decrease in October 2017, new pick-up vans enjoyed another successful month with a steady increase in demand of 0.5 percent in comparison with October 2016. All other new van categories saw a decrease in demand; 5.2 percent in terms of new large vans, however with 15,658 new large vans sold last month, they remained the best-selling new van category.
New small vans were the largest casualty last month, experiencing a 20.2 percent decrease in demand from October 2016, new medium vans also experienced a dip last month of 14.6 percent.
LCV registrations this year to date have fallen 3.5 percent overall, however demand for new vans remains at a high level.
October's best-selling new vans
The top 10 best-selling new vans table has witnessed some changes, however the top 2 selling new vans remained the same as September 2017. In first, once again the new Ford Transit Custom van, selling an impressive 2,844 units, ahead of its big brother the new Ford Transit in second place. The new Volkswagen Transporter moved up once place to third place last month, swapping places with the new Mercedes Sprinter which moved down to fourth. The top half of the table was completed by a third entry from Ford vans, in the form of the Ford Transit Connect.
In sixth place, an impressive month for the Peugeot Boxer, rising four places in the best-sellers table. Coinciding with this surge from the Boxer, the Vauxhall Vivaro fell one place to seventh, the Citroen Berlingo fell one place to eighth. The only new pick-up van in the top 10 and fourth entry from Ford vans, the Ford Ranger slipped one place to ninth last month, whereas the second entry from Peugeot vans, the Peugeot Partner slipped one place to tenth in the table.
The top 10 selling vans remained the same as last month, albeit in a different order!
New van finance
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