Record six months for the sector
In July we financed 12 light commercial vans, so we were not surprised to see figures released by the Society of Motor Manufacturers and Traders (SMMT) that the new UK van market recorded its fifth consecutive month of growth in June, with registrations rising by 2.7% to 36,700 units.
This is a record first six months for the sector, with overall demand in the year up 3.0% to 191,996 units.
Heavier vans and pick-ups drove June's growth, with registrations up 11.3% and 17.3% respectively, while smaller vans weighing less than 2.0-tonnes were less popular, with demand falling by a fifth (-19.7%).
These figures mirror our activity. With over 20 funders, we’ve been able to help many vehicle rental companies gain the extra access to finance they need to sustain the growth of their business.