New Van Sales Boom in February
Published Date: 29th Mar 2023
New van sales in February 2023 have seen the best figures for a quarter of a century according to the SMMT (The Society of Motor Manufacturers and Traders).
Light commercial vehicles saw an 8.5% upturn, a figure not seen since 1998, while large vans saw a 14% increase and new small vans a more modest 5.2% rise.
The first two months of 2023 saw promising growth for the new van sales industry with an overall upturn of 17.5%.
February can be an unpredictable month for new registrations, and it is traditionally the lull before the storm as the new March plate vehicles are ready to be ushered in.
But as worldwide shortages of key automotive components and materials ease, we see an unusual high flow of new vehicles for February. It has been no secret that there has been a worldwide shortage of silicon chips, a key component of the modern vehicle.
In fact, many silicon chip manufacturers had been prioritising supplies to the consumer electronic market, leaving the automotive industry with a real shortage. As these issues are easing, we are seeing backorders and new orders from companies who have been patiently waiting for the supply chain to catch up.
Compared with last February, we see a 42% increase in the registration of new pickups vans, a staggering 90% increase in 4x4 vans and large vans (3.5t - 6.0t) saw a 37.5% upturn.