Demand for new vans falls in July but 2024 market remains at three-year high

The UK’s light commercial vehicle (LCV) market dropped -8.5 per cent in July with 24,689 vans, 4x4s, pickups and taxis joining the road, according to figures from the Society of Motor Manufacturers and Traders (SMMT). The performance is in comparison with a strong July in 2023 – the best in three years – however, which came amid a record-equalling 17 consecutive months of market growth. With that exceptional run of demand ending only in May this year, the overall market remains robust with registrations up 2.7 per cent year to date to become the best first seven months since 2019.