Weak business confidence blamed for shrinking new van market

10th February 2025

Registrations of new light commercial vehicles (LCVs) declined by 20.5% in January, according to new figures from the Society of Motor Manufacturers and Traders (SMMT).

There were 19,050 new vans, pick-ups and 4x4s registered, with falling demand hitting all but one segment.

Small van registrations recording the only increase, up 89.8% to 668 units but accounted for a fraction (3.5%) of the market.

Registrations of the largest vans were down 22.3% to 11,537 units – representing 60.6% of the overall market – while those of medium vans fell by 30.4% to 3,507 units.

In the smaller volume segments, meanwhile, 4x4s and pick-ups fell by 27.2% and 6.5%, respectively.