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Pickups helped boost the recently dipped LCV market!

Published on Friday 26 January 2018 in Van News

Pickups helped boost the recently dipped LCV market!

How will this affect leasing?

It's the LCV market's first dip since 2012, with new registrations falling by -3.6% to 362, 149 units in 2017. But, what does this mean for leasing? Vanarama's Laura Day reports.

The markets for vans under 2.0 tonnes and heavy vans weighing 2.5-3.5 tonnes drove the overall annual decline, falling -20.3% and -3.1%. However, demand for pickups saw uplifts of 7.8% compared with 2016.

Despite the annual dip, December saw LCV registrations increase 2.9% to 28,016 units. Again, pickups were partly to blame for this, with the demand rising 6% in the month!

And, believe it or not, new vans and pickups are actually still at its third highest this decade! But, how does leasing come in to all of this?


The experts have their say

Russell Adams, Commercial Vehicle Manager at Lex Autolease said: "Despite further falls in LCV registrations, the leasing market continues to be buoyant".

He goes on to say, "We've experienced strong growth over the past 12 months, driven largely by increased demand from tradespeople and businesses operating across construction and e-commerce."

SMMT Chief Executive Mike Hawes adds: "While the market has slowed in 2017, this was in line with expectations and demand remains at a high level."


Leasing is on the up!

The truth is, these sectors (construction and e-commerce), rely heavily on the production of commercial vehicles.

This is where leasing really shines, because when you marry that need up with their desire to retain as much capital as possible, by reducing outgoings – leasing becomes the affordable way to drive a brand-new commercial vehicle, for a fraction of the price than if you were to buy one outright.

And, thanks to the pickup truck boom carrying the LCV sales forward, it's clear that there is still a high demand for commercial vehicles.

Do you need a commercial vehicle? Are you looking for an affordable way to drive a brand-new motor? Well, leasing is the way to go! Don't hesitate to get in touch on 01442 838195 – we've got experts at the ready to answer all your burning questions. Or, if you would like to look at all our deals, head over to our website here.