The light commercial vehicle market had its ups and downs in 2018, especially towards the end of the year: during some months sales rose, while in others they fell, which led the used LCV market to enjoy great success.
Regarding the UK market, the fluctuating trend can be attributed to a number of reasons: the uncertainty as to whether there will be a no-deal Brexit is affecting the confidence of buyers, the introduction of the WLTP (Worldwide Harmonised Light Vehicle Test Procedure) for light commercial vehicles in 2019 is another, and the introduction of Ultra-low emission zone and clean air zones throughout UK is also a factor.
The LCV market in Ireland followed a similar trend in 2018, with positive sales in some months and negative in others, compared with the previous year. According to the official statistics of the Irish Motor Industry, the months of September, November and December registered a decrease in new LCV registrations of 12.53%, 1.72% and 9.72% respectively.
So how has the LCV market performed during the first months of 2019 in Ireland and the UK?
According to the Society of Motor Manufacturers and Traders (SMMT), the new van market in the UK has seen an 8.6% uptick in January 2019 based on figures released in mid-February. More than 22,000 new vans and pickups were introduced to UK roads in the first month of the year, an increase of 1,761 compared with January 2018. The positive result was not a complete surprise as something of a bounce-back was half expected after such a poor sales performance in the previous month of December.
In Ireland, according to numbers made public by the IMS, LCV registrations in January totalled 5,647, a decrease of 16.38% when compared to January 2018 (6,753).
According to Mike Hawes, the chief executive of SMMT, so long as the post-Brexit future remains uncertain, we should expect trends to fluctuate over the coming months as the EU negotiations pan out and the UK parliament votes on the various proposals. Political and economic stability is generally necessary for businesses to invest in new vehicles, and a big part of this stability resides in the ability of the UK government and the EU to formulate a deal before the Brexit deadline.
