SMMT – economic uncertainty depresses van market

The ongoing economic uncertainties around Brexit seem to have affected the UK van sales market, which is down 2.7% in the first seven months of this year according to the Society of Motor Manufacturers and Traders (SMMT).

Among the figures, registrations in the 2.5 to 3.5 tonne sector were 4% down to 124,710 units. In the 2 to 2.5 t sector, registrations fell by 1.4%.

SMMT chief executive Mike Hawes said: “While variations in buying cycles are a natural feature of the light commercials sector and demand is still at high levels, the overall trend is one of decline. On-going uncertainty and low business confidence are undoubtedly having an effect; therefore government must address these concerns and create the conditions necessary for the market to prosper.”