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On the face of it, 2012 was a bad year for new LCV registrations, according to the SMMT's figures, but beneath the surface it's not necessarily doom and gloom. Paul Barker sheds some light on the market.
Last year was a tough one for the UK van market. A 7.9% drop in registrations reversed the previous three years of growth, although the total of 239,641 LCVs being registered was still the second best since 2008, and well above 2009's recessionary low of just 186,386.
But despite the drop, which saw each sector of the market down by 6.0-11.4%, according to the figures from the Society of Motor Manufacturers & Traders, there was still reason to be positive, with the market seemingly on the cusp of a recovery.
"There is still a core underlying demand - you've only got to look at what's happening with used vehicles and people wanting something newer," SMMT CV development manager Nigel Base tells BusinessCar. "We're seeing a shift. They can't quite afford new so they're buying used, then the prices of used vehicles go up."
That, says Base, means the gap closes between new and used models, making people once more consider a new vehicle rather than nearly new. "There's a real dilemma in the marketplace to buy new or used when your van is getting old," he continues. "I think it's very, very difficult to read. Until the general economic climate stabilises, it's difficult to see what's going to happen."
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